this market is dumbed down obviously. miners are too cheap and its simply irrational. i know many pros personally that are buying here though. miners are ready to bottom. stay in there guys. gl. im in silver but we all see whats going on. gl
i am lucky i hold no position in nugt and i was too scared to try and time dust never like to chase but too nervous to hold either one with any conviction. gdx to 31 seems likely now with gold as far down as it is. if it hits there i'll be buying for sure. assuming the stock market isn't crashing.
what pro's? pro strippers. Many (pros) are projecting gold down to 1200, 1300 1450 in the neat future. It's had an astronomical ride. It's over , over. Until the unlikely event that inflation goes way up, very unlikely. or the financial system implodes again, very unlikely, or, until we go in a deep recession maybe gold would go up. Right now it is way overpriced and not a safe haven anymore for the disaster theorists. It is disingenuous to tell longs to hang in there when you and your pro's don't have a clue on what is gong to happen next.
"....or the financial system implodes again, very unlikely..." That is the wildcard and "unlikely" is the lurking Black Swan. Having said that, I just spoke to Jim Sinclair who said this is the 10th last time he is warning me - if I hit him in the face with a sledgehammer 9 more times, he's gonna really get angry.