Tuesday, January 14, 2014
HGU high volume day
This here is funny.
I like how HGU (the TSX double long gold miners ETF) saw this big spike in volume.
This day looks to be the biggest volume day you're going to see in this ETF since August, minimum.
The problem for the shorts is that people seem to be getting the idea that they can go long and double-long the miners. And hey, why not? Who's left to sell? So this looks like it should still skew to the long side for a while, methinks.
Maybe it all fucks up in a couple weeks, or maybe it all dies at PDAC again. But right now, it's eat drink and be merry, for tomorrow we may die.