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InvestBaboo
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Casual investor with a flair for investing.
  • NG - Novagold Resources - Speculative Play 0 comments
    May 11, 2009 2:04 PM

    NG at $2.94 as I write this is an interesting speculative play.

    I wrote in an earlier post that Gold is a buy and recommended ABX, GDX and EGO. I have been trying to find a low priced speculative play with great Daily and Weekly charts and I believe I have found it -- NG (Novagold Resources).

    Gold has shown buy signals on both Daily and Weekly charts. Gold bulls predict Gold going to $2000 an ounce from the current $900 and change. NG could be an interesting way to ride the Gold bull if indeed Gold goes to such stratospheric heights.

    If you are buying NG then the stop loss I recommend is $2.00. NG will be added to the Slumdog Millionaire portfolio in my next post.

     

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