Wednesday, August 26, 2015

Gold miners re-suck™


Man oh man:


Yo mama went from around $1.75 to $2.45 and the people who bought at the bottom felt they were all oh so clever, til it went back down to $1.77. What a one-month round trip! Nice turnaround at the magical SMA(50) too.




B2Clive went from around $1.00 to $1.37 and the people who bought at the bottom felt they were all oh so clever, til it went back down to $1.09. What a one-month round trip! Nice turnaround at the magical SMA(50) too.




McEwen went from $0.65 to $1.00 and the people who bought at the bottom felt they were all oh so clever, til it went back down to $0.72. What a one-month round trip!

I'm not saying I know what forced liquidation looks like, but I imagine it would probably look something like this, especially with gold still at $1125. Hey, if gold goes back to $1050, or even to Jeffy Currie's $1000, maybe GDX will have to do a reverse split at $5. That'd be a great buy point, no?

I mean, if gold ever were to go up again that is.

No comments:

Post a Comment