Collapsing gold miners predict massive drop in GLD
With the sick gold and silver junior miners hovering near pink sheet levels.....given the historical reality that miners always predict the direction of the bullion....then nobody is going to tell me or convince me that there is any kind of "bull" market today in gold or silver.
Instead, what appears to be a "bull" has been nothing more than a distribution top, where pros dump stock into amateur bagholder hands, and even though that distribution top has had an upward bias at times, it still remains an obvious distribution top.
You can not have bankrupted miners (like Great Basin) or golds facing NYSE delisting (like Jaguar) in anything resembling a gold or silver bull. That is absolutely impossible!
Learn from your intellectual superiors like me or you will end up holding a crashed GLD plus shares of useless ultimately worthless miners, and that includes the "biggies," like Barrick, Anglogold, Newmont, Goldcorp, Yamana, Agnico, Allied Nev, Pan American, Coeur D'alene, etc. etc. not to mention devastated metal "banks" like Franco Nevada, Silver Wheaton, etc.