Are there stats on how often this sells off after 10AM? Must be 8 or 9 days out of 10. Even when the price is rising, it still sells off almost every day. How is that possible? Is it naked shorting? It sure seems fishy. Any reasonable theories to explain the way this ETF and all the mining stocks behave every day?
Someone seems to come in and sell/short a large # of shares to knock the price down into the close every day as well. If you watch from about 3:45 on it's clear as day. I've only been in GDXJ for a short period of time but I noticed the pattern almost immediately.
There is a HUGE ongoing effort to suppress these ETFs and gold. Just look at what happened this morning.
The headlines read gold down because no more QE anticipated. Then the poor initial jobless claims came out and gold popped up only to be pushed back down. Now, the headlines read gold is down because it's a risk off trading day. It's all nonsense. Gold should have had a huge response to the jobless numbers.