Bear Stearns and Lehman Brothers bounced along the bottom before finding their watery graves. Let’s be perfectly clear about one singular thing: the miners are for suckers, people obsessed with the dissolution of the Federal Reserve and western finance. You people, all of you people, are scandalous vagrants, thieves in the night hell bent on the pain and misery of others. A great shame falls upon your house and it shall cast a shadow that will last for generations to come.
There is no long trade for gold miners, mind you. There are only short set ups. If you’d only remove yourselves from the slothness of your charts, you’d learn that the miners are all losing a shit load of money searching for yellow metal that is decreasing in value on a daily basis. The net asset values for scores of junior miners are exactly zero.
Sure, you might fancy yourselves to be smart day traders, running along the side of the road, avoiding the oncoming traffic. But you can only play this game for so long, as King Dollars reign supreme and the gold trade is effectively over.
In closing, I am reminded of a trade a very good friend of mine took on a Friday afternoon, heading into the weekend. He bought himself 5,000 shares of BSC at around $30, hoping for a few Monday shekels, only to find himself horrendously stupefied by the reality of his error.
This isn’t exactly stratagem, friendo– but facts.
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