Newmont Ready to Run By Gary Morrow About this article: Newmont Mining is nearing its June top after taking out multi-week highs near $48. NEM is up more than 3.50% today and has easily blown past intermediate-term resistance near its September and October highs. NEM Daily (NYSE) Newmont Mining Source: TradeStation The rally today extends a powerful run the stock has had since last month's lows. After topping out four weeks ago just above $48, NEM hit a rough patch with seven straight down days. The selling pressure picked up as the stock lost more ground but failed to take out strong support at its 200-day moving average. This pattern of holding support near its 200-day has been going on for months. The string includes the lows from April, May, July, August, September as well as last month. Following each test of the 200-day, NEM... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

If you choose a 14-day free trial of RealMoney and you do NOT call to cancel within those 14 days, you will pay $129.95 — a $100 savings off the regular annual subscription price of $229.95. Unless you cancel before the end of that year, your subscription will automatically renew for another year at the then-current subscription price.

Offer applies only to new annual subscriptions, and is subject to change at any time. Void where prohibited.

If you choose a monthly subscription, you pay $34.95 per month. You will be notified if the current monthly rate of $34.95 changes at any time in the future.

TheStreet.com is a publisher. None of the contributors or their affiliates will provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. From time to time, any or all of the contributors or their affiliates may hold positions in securities mentioned and they may trade for their own accounts. In cases where the position is held at the time of publication, appropriate disclosure is made.

© TheStreet.com, Inc., 14 Wall Street, 15th Floor, New York, NY 10005.