Currency fluctuation also includes other currency besides the dollar.
The Yuan has been incredibly volatile.
dstone-Regardless of what GDX reps say, your checking proved my point. It trades on it's own and although it will play "catch up" or "catch down", it trades on it's own and although the PPS SHOULD reflect the holdings, it doesn't.
On that Wed. the holdings were up but in the last 5 minutes they traded this ETF down.Next day it played catch up during the day. But it's manipulated.
Short term trading with it is fine, but beware.
If you want to hold a basket on miners, but a PM mutual fund. It's MUCH safer.
EMO and that'sthe story.
Doesn't matter.Right now, you have to know how to play it.
If you're long and in for the long haul, add when they are mad!!!!!
Or something like that LOL.
upside with great guidance again.
I bought the dip and am loaded in my trade account as well as my lock box long shares for my kids.
I point it out because of this.
I am long AAPL.I have shares in a lock box, but I do have a trading account.
I was dry a few shares and when the stock was approaching.$116 I kind of knew it would drop.
It did and I added more near the close.
Fridays have been buy opps on occasion due to this phenom.
Max pain is often where it ends up.
Opex $115 Max pain. They busted 'em today..
On Wed. the underlying securities were up over 2% and in the last minute this was taken down to a gain of approx. .05%. Following day, underlying securities were down about 2% and this wasn't.
This ETF is and has been more and more a trading vehicle controlled by the traders, and not following the action of the underlying miners. Since it's not a 2 or 3x underlying, and doesn't contain hugely volatile derivatives, it should follow the underlying securities.
Fact is, I can't copy and paste anymore in the message boards as the powers that be "improved" our functionality to the point it stinks, but look at the tracking price of Gold VS GDX. They track but this ETF is worse, never better over time.
NEVER HOLD THIS!
I repeat do not hold this.
It's for trading ONLY!
invest in this EVER!
First and foremost--Currency fluctuations. Notice I didn't refer to the dollar. Historically, recently meaning 12 years, it all started with China. Although they learned from us, and looked at 1971 on, they took it to a new level by controlling their own destiny, reducing the Yuan and consistently playing it against the dollar. Cooked the books,printed, built and masked everything. But one constant was keeping the Yuan lower to bolster exports.
Then Timmy and Benny took our system and converted into a competing central bank, reducing our value against the Yen and Euro.
Then, every other country in the world who has the printing presses, is following suit.
So it's no longer JUST about the dollar.
The race to the bottom is actually playing out.
Today, Draghi laid out more of their plan, and we must watch what he does, not what he says, but interestly,he didn't rule out purchases of ANY asset class EXCEPT Gold!!!!!
Normally, that would be bad news for PMs.
In the near term,it should be, BUT, it's possible that it's actually BULLISH for PMs.
We'll get into reasons in a next post.
But add these thoughts to the mix;
2-Saudi, OPEC and OIL.
3-The new,silent unyet announced but active WAR in Iraq! We have over 4000 troop on the ground there TODAY!
The company says patient enrollment increased 8 fold!!!!!
Transparency at it's best.
That's not spinning the numbers, is it?