Loading ...I don’t see it that way. Once again I think we have hit bottom….a little higher bottom but a bottom. A few years back we were all trained to become swing traders, then day traders, then because they are so convenient just buy the ETF’s and trade the hell out of them. Virtually nobody, with rare exception, was buying the PM shares…..they were only buying the ETF’s which were only tracking the PM’s. Where could people expect the PM’s to go?? Certainly not up since every dollar placed into an ETF is a gift to TPTB and just asking them to take PM’s down.
As a general question to all, how many have made money trading ETF’s? How about leveraged ETF’s?? If we were in an unmanipulated sector or market one could use TA to advantage, but TA has been a tool of TPTB too. Good news is bad for the sector and the PM shares, bad news is bad for the sector and PM shares.
The entire game changed when they introduced the ETF’s to the sector, and it has never recovered its old oversold/overbought TA charting ability to time the sector. The entire market is now run by the ETF’s using wash trades that are designed to hold the sector in place. Because of the vast wash trades it is no longer possible to use volume as an indicator of direction either since for every legitimate trade there are probably 1000 wash trades.
So you say we’re screwed…..and maybe you are right if all the lazy ETF traders keep proving the definition of insanity…. doing the same thing over and over again but expecting different results.
My challenge to the sector is this. First buy phyz, (most have) next buy a small basket of beaten up PM shares or better yet buy one of several PM funds that actually have invested in the stocks they show as being their portfolio, like Sentry Select PM funds, Sprott PM funds, or whatever your personal choice. Get out of ETF’s and stay out. Anyone using them is not only hurting themselves but also hurting everyone else in the sector who is actually buying the real shares of real companies.
I have no influence over anyone else here but it should be “plain as print” why we are in the shape we’re in. Give it some thought people and PLAY YOUR OWN GAME, don’t keep playing theirs by trying to trade the ETF’s while they keep laughing at you for being so stupid while they keep picking your pockets. My money is where my mouth is. All The Best,……………Silverngold