Direxion Daily Gold Miners Be (DUST)

[Sgreg]

I look at that the chart of miners and they scream pump job. Those are the charts of pump jobs. Those are not the charts of money managers re-allocating their underweight positions. Parabolic charts are pump jobs. I sure money managers have bought up some miners but when they buy stuff up they don't do it in a parabolic manner. If I had a money manager taking my money and buying into stuff that went parabolic I visit him and smack the crap out of him. A damn professional should know better and they do know better.

They are also charts of short squeezing. Short squeezing ends after awhile and is not something that is lasting.

Everywhere on the internet everyone is saying miners going much much higher. Isn't it funny there is way more of this now that miners are up 150% in 3 months.

Pump job pump job pump job. It is just a pump. It is clear as day to me. I'm not talking about January and February. That was real and sustainable but movements lately all pump job.

Finally yes, mining companies have done some good work cutting costs. However their valuations have risen 150% in 3 months. The mining sector right now is the most expensive sector in the stock market. Their valuations are too darn high right now.

Gold had better stop trading sideways like it has for the last month and better actually go up and go up a good amount or you will certainly see what comes after a pump phase.