Closed Out Newmont Positions

I closed out the entire Newmont position this week and am now in 100% cash. I expect the precious metals to continue to perform well in 2006, Newmont included, but given the quickly approaching options expiration in 3 weeks, I decided not to risk a big move down in the gold price or the stock in the short term and instead to lock in the gain.

Here is the entry/exit chart:



Here is the profit/loss summary:


I am fairly satisfied with this trade - it did not meet my entire expectations as I thought that Newmont could trade as high as $60 before the end of the year. It very well might in 2006, but that is another story.

-BG