Let's see... 1) weak global economic growth 2) potential for a June Fed rate hike 3) No real inflation in sight.....ok, ok...some material prices have risen recently. Time to short GDX ? I'd love to hear the opinions.
I rode NUGT up from 59. Sold circa close today. Bought DUST. Will reverse again circa close tomorrow (long nugt).
I know someone who bought it at 52 got out 86-90.5.. I think 40/50 thousand shares. It's a amazing trading vehicle. News spurred by unhinging of pricing/ manipulation of CB printers. New Shanghai Metals Exchange... If Asians are willing to pay higher prices and westerns CBs are willing to sell it to keep it lower, it will instigate flight of physical to Asia. Derivatives will have a harder time issuing new shares if they can't guarantee physical. Before Yuan devaluation, accumulation of more and more physical needs to be done, so Yuan can free float as a alternative reserve currency.
just because something has gone up in price above the mean very quickly doesn't mean it's time to short it
started up leg to new high. see audjpy, pair of all pairs. gold bugs sold at 1200, and hope to buy back at 999. so did everyone else. these guys will now be buying new high in couple years as large short positions unwind and make me rich.