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Old 12-24-2012, 11:20 AM   #1
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Holiday tricks with GDX and GDXJ

So I woke up this morning and turned on my data feeds. On one platform I see GDX down .5% and 1.5% on another. Odd... I look at my GDX and I see it down 6.2% and 2% on another. Even more odd.

So I check my news and it looks like GDX and GDXJ each had dividends today. for GDX it's 46.2 cents and 75 cents for GDXJ. Usually when there is a dividend, they correct the chart so you don't have big gaps (in GDXJ's case a 4% one.)

Part of this has to do with market vectors screwing over people.

8 pm on a friday. No one had a chance to get out if they didn't want the dividend. It also gave the interns working at esignal zero time to adjust.

Now.. I don't own either of these BUT I do recognize that these moves are pretty sizable and blow through support levels when dividends aren't adjusted for. This morning, we are 39 minutes into the day and esignal still hasn't made the adjustment.

Think about that for a moment. There are people out there that use esignal for their feeds exclusively and are trading based on this information. Stops were CLEARLY triggered in light volume. I feel sorry for a lot of people today that aren't getting updated charts and are likely panicking the day before xmas by seeing GDXJ down 6.25% (now shows 5.7%) This also happened last year I might add.

So clearly someone had a really dumb idea to announce their distributions (in this case 100% dividends) to investors at 8 pm on a friday before xmas eve?
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Old 12-24-2012, 11:43 AM   #2
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Old 12-24-2012, 11:54 AM   #3
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1 hour and 23 minutes.. still not updated.

I'd like to note that this SEVERELY impacts RSI, MACD and numerous other technical indicators.
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