what is going on this am in GLD ? are some funds paying up in it to try to hedge against their short GLG positions with GLG to open way higher on merger news with GG ? it would be cheaper for them to buy spot gold loco london or dec gold futures ... but maybe they can only buy and sell equities ?
Looks like Glamis and Goldcorp have 3.4 M and 4.4 M shares out in a short position. Should see some short covering with the merger news. GLG will have a bit of a run up today. MS