Gold has had one heck of a day, up nearly 4%, and nearly 6% from the morning lows. Was it the Swiss referendum, US dollar weakness, or just plan old simple sell the rumor buy …
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MorningWord 12/4/13: GDX hit its lowest level since November 2008 yesterday, and is now down 69% from its peak in September 2011. Quite a picture of wealth destruction. While the descent in the gold miners …
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Jefferies downgraded a slew of gold miners today, arguing that “with short reserve lives, rising costs, rising political risks, and a stagnant commodity price” the entire group remained unattractive and overvalued. Putting aside the fact …
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In my Name That Trade post last month, I pointed out the large divergence between MON stock and commodity grains prices to start 2013. This is what I wrote then: Monsanto’s bread and butter business …
Continue readingTrade Update April 15th, 2013, 9:45 am: Gold and silver have made massive moves in the past 2 trading days, with all precious metal related assets moving lower.
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I laid out my thoughts on NEM and the precious metals in general in a Name That Trade Post 3 weeks ago, included below. In that post, I discussed how precious metals were at a …
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The gold miners have been totally decimated in the past 6 months. The ETF is down from around 55 in Sept 2012 to 37 today, a 35% drop for the sector. Meanwhile, gold and silver …
Continue readingTrade Update May 17th, 2012 at 10:00 AM: This trade did not go as planned, and when a trade does not go as planned, you take your loss and move on. I thought the gold …
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One sector that has been a complete dog this year is the gold miners. GDX is down more than 15% year-to-date, selling off almost in a straight line in March and April, after rallying with …
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