Here's Sandstorm Gold, US chart:
No similar lungpoopage is seen in the charts for FNV and RGLD, so god knows what the heck is going on here.
GDXJ and $HUI are also having a terrible day. And yet silver is even and gold is even. So, I dunno... maybe this is just some huge hedge fund clod who's puking his entire position all in one day?
Dundee Precious Metals is normally driven heavily by ETF flows, according to my own flawed perception, yet it's not diving that badly. However, BTO has really tanked. So maybe this is just one major US hedge fund puking into the market.
In any case, time to dust off the trademarked "gold miners suck™" tags....
Nothing written or implied on this blog should be taken as investment advice, an inducement to buy or sell securities, or anything other than the insane ramblings of an anarchist sociopath who dreams of a dystopian future where giant wardroids drive over piles of human skulls.

Jim Cramer called it a buy on October 5th. He called sell on it today. Just sayin'
ReplyDeleteYou watch Crammer?
DeleteNope, got a mail from someone who does.
Delete