- Analytical Commentary -

March 3, 2010 (FinancialWire) (By Frank Kollar) — Shares of Newmont Mining Corp (NYSE: NEM) have been in rally mode since pulling back some 24% in a strong December to January correction.

Importantly, the new rally has reached and surpassed a critical resistance level at $51.23 in trading on Tuesday, March 2. This is the 61.8% retracement of the entire December to January decline and if surpassed, forecasts a run to the prior high in our chart work.

The prior closing high was at $55.83 on December 2, 2009. That is now the target for this rally.

If $55.83 is surpassed, Newmont Mining could reach the $65 level assuming the metals markets stay strong in coming months.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent. For 2008-2009, his strategy resulted in a 81.9% gain, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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