Diamonds and Dogs
6/26/13Newmont Mining Corporation (NEM)
Newmont Mining looks like fool's gold today, down 5.91% at $27.22. The gold mining company saw its shares fall as gold prices continued their downward skid. Gold fell $45.30 an ounce today for two reasons, one the dollar showed gains, two investors fear the Fed will cut its stimulus. David White, financial trader at SpreadEx said, "A combination of dollar strength, economic progress and a re-rating to the market's expectations of central-bank asset purchases are crushing prices." Newmont Mining shares fell to a new 52-week low of $27.07 intraday.
Cheniere Energy Partners LP (CQP)
Cheniere Energy is getting the "Cramer Bounce" today, up 9.97% at $28.13. The liquid natural gas company saw its shares rally after CNBC's Jim Cramer said that he feel's Cheniere Energy is a buy right now. Cramer stated that the natural gas boom in the United States has huge potential and Cheniere is a good company to use to bet on a natural gas rally. The company is trading near the top of its 52-week range of $17.59-$31.25.