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Monday, December 15, 2014

Comment on vix futures and miners


This:


will be the story of today. $VIX has skyrocketed and even the vix blogs don't seem to have a good explanation why; there are even crazy-high $VIX calls freaking people out.

Meanwhile, in premarket at least, both GDX and GDXJ are threatening new lows, which makes me want to tell you that even if gold remains strong, you probably don't want to take a new position in a beaten-down miner today, no matter how good a deal you think you can get. If the market wants to sell, you let it sell til it's done.


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