- Technical Market Commentary -

September 1, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Newmont Mining Corp. (NYSE: NEM) are closing-in on their all-time high of $61.93, reached back on July 9 of this year.

On Monday, August 30, Newmont closed above an important resistance level, at $59.91, setting up the run for new highs.

With bullion in rally mode it looks like a breakout is in the cards for this widely traded mining stock.

If Newmont Mining does break out to new closing highs, the initial target for the advance is at $65.84. If surpassed the target will be $68.99. That target is 12.5% above the August 31 close.

(Go to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby+cmmtry for more of Kollar’s commentaries.)

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The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the combined NYSE, AMEX and NASDAQ 25 most actives and combined NYSE, AMEX and NASDAQ greatest percentage losers and greatest percentage winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Last session’s most actives showed 9 advancers versus 16 decliners. Volume leaders were led by Citigroup, Inc. (NYSE: C) (streaming research for Citigroup available at http://investrend.stocksmart.com/ri/toc?tid=7921), the SPDRS S&P 500 Trust ETF (AMEX: SPY) (streaming research for SPY available at http://investrend.stocksmart.com/ri/toc?tid=34430), Bank of America Corp. (NYSE: BAC) (streaming research for BAC available at http://investrend.stocksmart.com/ri/toc?tid=8456), the Financial Select Sector SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233), Cisco Systems, Inc. (NASDAQ: CSCO) (streaming research for CSCO available at http://investrend.stocksmart.com/ri/toc?tid=1723), Intel Corp. (NASDAQ: INTC) (streaming research for INTC available at http://investrend.stocksmart.com/ri/toc?tid=3619), the PowerShares QQQ Trust ETF (NASDAQ: QQQQ) (streaming research for QQQQ available at http://investrend.stocksmart.com/ri/toc?tid=1044870), Microsoft Corp. (NASDAQ: MSFT) (streaming research for MSFT available at http://investrend.stocksmart.com/ri/toc?tid=4652), General Electric Co. (NYSE: GE) (streaming research for GE available at http://investrend.stocksmart.com/ri/toc?tid=8030) and Oracle Corp. (NASDAQ: ORCL) (streaming research for ORCL available at http://investrend.stocksmart.com/ri/toc?tid=5252).

The FirstAlert(tm) Economics Calendar lists ADP employment report for August (8:15 a.m.), construction spending for July (10 a.m.), ISM Index for August (10 a.m.0, EIA petroleum inventories (10:30 a.m.), auto sales for August.

The FirstAlert(tm) Events Calendar showcases CQP, KMP at UBS MLP One-on-One Conference; GE, LMT, UTX, TYC at Morgan Stanley Global Industrials Conference.

The FirstAlert(tm) Earnings Calendar highlights Borders Group, Inc. (BGP) Q2 2010 earnings release and conference call.

FirstAlert(tm) Website of the Day: http://www.dol.gov/opa/aboutdol/laborday.htm

Quote of the Day: "If love is the answer, could you please rephrase the question?" — Lily Tomlin

Word of the Day: beek \BEEK\, verb: 1. To bask or warm in the sunshine or before a fire. 2. (Of wood) to season by exposure to heat.

In context: "Galen, you and the lads go beek yourselves by fireside." — Deborah MacGillivray, One Snowy Knight

(Beek is related to the same Middle English root that results in bake.)

Today is: Calendar Adjustment Day

Happy Birthday: Edgar Rice Burroughs

Today in History: In Reykjavík, Iceland, in 1972, American Bobby Fischer beat Russian Boris Spassky and became the world chess champion.

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