It’s been a while since I looked in on Newmont, and I was surprised at what I found. Although price action in gold futures has been disappointing, if not to say depressing, NEM looks eager to bound higher on the very first sign that ‘physical’ has turned buoyant. Indeed, it is extremely difficult to see the sideways scuddle of the last month as anything but consolidation. Moreover, the pattern is particularly encouraging because pullbacks have been relatively shallow even as Comex gold has come down from 1308 in late January to a recent low of 1132.  Hidden Pivot analysis suggests that the next big rally could push the stock to the 28.62 target shown — an implied 16% gain from current levels. The move would become an odds-on bet if and when the midpoint Hidden Pivot at 25.99 is exceeded by more than 20 cents, but we’ll wait for it to happen before we break out the bubbly. ______ UPDATE (February 22, 8:15 p.m. EST): The stock took off like a shot Friday, with several subscribers reporting getting aboard ahead of the move. Since I’d advised no entry strategy, however, you’re on your own. Some profit-taking would have been in order — and still is — since NEM was up as much as $2 intraday at its 26.38 high.