…of last week, which posited that due to the close correlation of Newmont (NEM) and Barrick (GOLD) operations these days (Nevada, Pueblo Viejo, etc) the GOLD beat of last week flags a NEM beat this week:
With half an hour left in trading before NEM reports it’s worked quite well and there’s a +4% arb on the pair, so in theory there’s no need even to hold through earnings. I don’t mind admitting it would be enough if I were in charge of an eight figure hedged trade, then again I’m chicken.