Direxion Daily Gold Miners Be (DUST)

[Sgreg]

To use the fact that the S&P is overbought is not a good argument for you. The S&P is overbought. However, the S&P price to earnings ratio is about 20. Miners are at about 70 to 80 right now. If one thinks the S&P is expensive then miners are 3 to 4 times MORE expensive. That's just the numbers.

Anyway you don't need to concern yourself with me. I bought JDST this pre-market at 5.39. Then sold it and the 5.55 shares I was holding all at 5.85, yesterday's closing price. I know to flip as that is what the purpose of this instrument really is.

Ultimately miners are very expensive, I do not pay up for stuff. If others want to then they can have at it. As for me no thanks, people can try to sell their tired, overbought, over priced miners to someone else. I do not want them at this price.