The AB impulse leg shown is pure sausage, since it failed to exceed the 54.30 low recorded last July, but the pattern is so pretty otherwise that we can, and should, use it to attempt bottom-fishing in this stock.  It’s been quite a while since we held a position in Newmont, but attempting to establish one at the ‘D’ correction target shown would appear to be a very low-risk gambit.  Accordingly, I’ll recommend buying 400 shares with a 50.40 bid, good-till-canceled.  I’ve also set a screen alert at 52.28, since that secondary retracement target could engender a tradable turn. _____ UPDATE:  Odds of our stealing the stock diminished with yesterday’s breakaway gap, but well leave the bid in anyway, just in case.  _______ UPDATE (Thursday, March 3, 12:03 p.m. EST):  NEM is getting savaged today, pushing it closer to our 50.40 stink bid.  Regarding the lesser HP support at 52.28, you can test the water there with a 400-share bid, but I’d suggest doing so only if you are using camouflage to limit risk to literal nickels and dimes.  If you are unable to do this, try a 52.30 bid, stop 52.18.  FYI, the shakedown has obliterated the 53.41 midpoint support associated with A=60.19, D=50.35.  Because there are several patterns that project to within a a nickel of 50.40, odds favor a correction to that level. If so,, the pullback from October’s highs will have amounted to an unexceptional 15%.  ________ UPDATE:  We just missed, Newmont having launched sharply higher after pulling back to 52.69.