Loading ...The only reason PM shares are firm today is because some suckers were stupid enough to buy some GDX puts yesterday, which is the dominant ETF (with OI 1 million plus calls), triggering some squeezing.
If you check the charts I posted yesterday on NUGT & JNUG you saw the aggressive PM share macro / directional speculators are very bullish, which is holding the shares back.
It’s a clusterf*ck, which suites the bankers, because on balance and over time they still win because the machines still control paper pricing.
As I have been saying for a very long time, nothing will change until da boyz lose control of paper pricing. If the corona hoax starts to unwind by month end and people start going back to work, planes are flying, etc. such that the bankers can talk about the status quo returning, if ETF speculators are not defensively positioned like Comex specs are now, it could continue to hold things back.
So the next op ex in two weeks will be telling to see just how bullish these idiots are.
See the GDX open interest put / call chart below.
