Wednesday, June 25, 2014

A few questions of mine for this morning

Here's just some ideas running through my head:

1. If the gold miners' rally is dead, why is silver still in its uptrend, as if nothing happened? Silver is supposed to be a PM like gold, and silver correlates with junior miners. So either silver has to crash in the next couple days, or the miners have to pop back.

2. Why did GDXJ drop $1.50 in the last half hour of yesterday? Was that just ETF longs puking back into the market? I guess GDXJ was overextended (and some of the juniors certainly were), but that's a lot of damage to fix before the chart looks good again.

3. Does anyone else know opex is happening? Do they expect a smackdown this week? Cos it might not happen. I have seen the gold-negative headlines crop up again, though.

I dropped a bit of a couple things that looked bad, but thankfully my RIO position is still in the green (and will be til the Lizard People drop it below $1.90) and my other small positions aren't that bad either. I'm on the cusp of selling, but want to see what happens with silver and with GDXJ and with opex.

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