Direxion Daily Gold Miners Be (DUST)

[Sgreg]

I'm going to buy back soon now. Another 20 cent a share gain for me again today on a flip. I kind of figured "dip buyers" would buy up more miners.

Gold bugs will continue to tell the world miners are going higher. Don't believe them. Think for yourself.

1) Miners have bad balance sheets
2) US economic data has been fairly good.
3) Miners are actually the weakest part of the labor market currently as the latest jobs report showed.
4) Miners are up over 100% in just 3 months.
5) Miners are very over-valued with P/E ratios of about 70-80.
6) Gold has been downtrending for last couple of weeks, putting in lower highs and lower lows.
7) Almost all miners have gap ups in their charts from about a month ago that almost always get filled.
8) Miners have horrendous growth
9) Miners pay miniscule dividends if any at all
10) Miners profits are unsatisfactory
11) Miners have very heavy debt burdens

Gold bugs will say miners will continue higher. I think they are very wrong and can't see the very big correction that should come in that sector that is staring them in the face.

Do they think there is a law that miners only go up? They are up 100% in 3 months, are they supposed to go up 200% how about 300%, why not 1000%? Are P/E ratios of 80 not inflated enough? Does the miner sector deserve P/E ratios over 100? How about 200. It is non-sense.

Let us all just stick our heads in the sand. Pay no attention to fundamentals or charts even. Gold bugs say miners must go up! It's a law!

Alright just entered with a new starting position in DUST at 3.22