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Goldcorp Inc. Message Board

  • certairifacts2 certairifacts2 Mar 15, 2013 8:27 AM Flag

    Time to get to the truth

    gold and silver have been struggling since the year began, adding to the decline from the highs in the fall of 2012. In the last 6 months, the SPDR Gold Trust (GLD) and the iShares Silver Trust (SLV), the two most popular ETFs that track spot gold and silver prices, are down 8.0% and 12.0% respectively. The gold and silver miners, as measured by the Gold Miners Index (GDX), the Junior Gold Miners Index (GDXJ) and the Global X Silver Miners (SIL) have been hammered in the same time frame, down 23.8%, 30.0% and 17.9% respectively. One of the best trading vehicles for short to medium-terms upside moves in the miners, the Direxion 3X Gold Miner Bull ETF (NUGT), has seen an incredible 60% loss in just 6 months. As such, Direxion, a leader in providing popular leverage bull and bear funds, announced on March 1, 2013 it will execute a reverse share split of NUGT, which aims to provide a return 300% that of the gold miners index. While other leveraged bearish and volatility funds have reverse split in the past few months as the 4 year bull market continues to power higher, such as the 1 for 4 reverse split of the iPath S&P 500 VIX Short-Term Futures ETN (VXX), NUGT is essentially alone as a bull fund to need a reverse split. Highlighting the problems the stocks in the gold mining space have had,

    Seems Lex has been right all along! Where are the longs that hate on Lex? Did they lose internet ISP because they no longer can pay their bill? hmmmmmm

    Good job Lex!

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