Last few days gold mining stocks basically have gone up without any pullback. Now I see why. Gold Bull Paulson Cuts SPDR Stake by Half in Bear Market By Debarati Roy - Aug 15, 2013 2:39 PM ET Billionaire hedge fund manager John Paulson, who told investors as recently as last month that they should own gold, cut his holdings in the metal by more than half as prices plunged into a bear market.
He sold 1/2 his GLD position sometime in Q2. We can't assume he sold all his gold on 6/28/13 at the $1180/ou low. Maybe he sold part of his position in May when gold ranged from $1340 to $1490, or early June when gold was $1400, which is still higher than where it's trading now at $1367.
================= Dividend; Good timing + no wonder most gold bulls gave up; past one year 50 day moving average has been a bull killer, for sure. And buy because a hedge fundie say buy, no thanks. Merry Christmas to the bull/uptrenders, YES its early/August; but when you keep seeing closes over 50 dma, increasing buy/bull trend volume, ok merry Christmas to the bulls. Looks lke his ''buy last month ''was a turtle signal, on time/early.LOL