Direxion Daily Gold Miners Index Bear 2X SharesArca
Description
⋅
DUST is filling a gap from last Monday's pop on the news that Buffet purchased GOLD. This is roughly the .50 FIB retracement level. I think this is a head fake and that this weakness should be bought. GDX is not oversold yet and in my opinion still has a little more correcting to do.
Comment
⋅
Buffet bounce for miners has brought DUST through the golden pocket which looked like it was going to hold this morning. Gold shorts feeling a little pain this morning. Let's see if the bulls can keep this going.
Warren Buffett usually likes to enter positions via selling puts (geting paid to trade) - if he did this with Barrick, then I would assume he anticipates a drop in the near future...
tuongvy0501
⋅
@EmptyEternity, if im not wrong what the article i was reading is he bought the long positions
BobbySpa
⋅
Not sure didn’t see it
tuongvy0501
⋅
@BobbySpa, the article i read was he bought the long positions with 20.9 million shares. i dont think they would announce the news if its a selling puts because its so obviously he is telling people to sell