GG = 1.00 penny junk masquerading as 29 buck stock
Ladies, when I was a boy, golds and silver once acted as "flight to safety" investments but that is NOT the case today, NOT in any way shape or form.
During ALL recent financial storms....during ALL recent currency turmoil (e.g. Euro).....during ALL recent international crises/wars (e.g. Cyprus, Korea, MidEast war, etc).....ALL golds and silvers have DIVED INTO THE TOILET and that means that every single ounce....every single share....is WORTHLESS WORTHLESS and there is NO logic to justify owning them anymore.
Ladies, I am a GENIUS in market TECHNICALS and HISTORICALS, and NONE of these sick miners will survive...repeat...NONE of them....and if you do not own MASSIVE PUT and SHORT positions, kiss all your $$$$ goodbye.
Be very careful this is an EXTREMELY oversold sector. The only way these miners tank is if gold tanks. It is clear from the recent price action the gold miners are bottoming out relative to the gold price. You had better be very bearish on gold at this point to be shorting the GDX or any of the miners for that matter. If gold burps up, then it would appear these miners are going to leap up. Insect is playing a dangerous game now. he had better be darn right that gold is going to tank, or Insect is going to be drinking DDT.
Gold has too much paper ownership, held by New York hedge fund types, who are all rushing into Barry Obama's Keynesian Stimuless Bonds now....and dumping COMEX gold because their banker told them too....
Were gold to fall to, say $1,200, don't you think that would perk up physical demand?
Sure it would.
All around the globe.
Gold will always have value, but I'm afraid that the US dollar won't, given what Barry and Ben are doing to it.