The day's price movements
- Thread starter benjamen
- Start date
Something to note..
GDX is basically trading inline with Gold today. Expect? Normal? sure..
Except when you look at what the components are doing. ABX is down 6.6% today. Why is that a bid deal?
ABX makes up 18% of the GDX and the ETF is still somehow up on the day. That is masking HUGE strength.
GDX is basically trading inline with Gold today. Expect? Normal? sure..
Except when you look at what the components are doing. ABX is down 6.6% today. Why is that a bid deal?
ABX makes up 18% of the GDX and the ETF is still somehow up on the day. That is masking HUGE strength.
What makes up the other 82%?
http://etfdb.com/etf/GDX/holdings/
Most of the components in GDX aren't even seeing reserves growing.. Unless you have more production coming on line, you need reserves to grow. That's how you pick mining companies. These ETFs are incredibly flawed.
http://www.zerohedge.com/news/2012-10-01/permadove-chuck-evans-speaks-precious-metals-soar
I love when the FED guys talk; it causes metals to skyrocket!
opcorn:
I love when the FED guys talk; it causes metals to skyrocket!
opcorn:I get a bit tired of ZH's constant headlining of a surge in prices over a matter of minutes. Already the price is heading back down.
Intraday price movements are not "news". Noticeable price changes over a period of at least a week may be news.
ZH should know better. And for them to link every price change to some incident, however likely, is not much different than the silly headlines you constantly see at Kitco.
Intraday price movements are not "news". Noticeable price changes over a period of at least a week may be news.
ZH should know better. And for them to link every price change to some incident, however likely, is not much different than the silly headlines you constantly see at Kitco.
Don't expect it to be too deep. I wouldn't trade positions either. This is really looking like the start of previous major moves.We need a 2-3 week correction... in time for my next purchase!
That sounds great to me! I have fiat in hand, but I hate to buy at what looks like a temporary top....I hate them, on the other hand - I still have my big purchases coming due soon
:shrug:
This author is calling for a pull back in gold over the next few months.
http://www.sovereignman.com/correspondents/whats-next-for-gold-and-silver-8937/
http://www.silverdoctors.com/raid-silver-flash-smashed-1-to-34-15/
That was a fun flash crash and rebound!
opcorn:
That was a fun flash crash and rebound!
opcorn:I wouldn't do it for trading. If you are long term, you shouldn't really care. If you are trying to make a large purchase, it's best to wait for big down days.
ancona
Praying Mantis
Today's price action is similat to the last few days as the shorts continue to defend their line in the sand. At some point, I would think physical stackers will have to win the day, since there continues to be regular silver consumption yet mine ore quality continues to fall. The ratio has to have an effect at some point......doesn't it?