Zeev's Turnips Patch-No Politics (ZEEV)

[suttree]

re: RGLD

The drop was precipitated by a recommendation in a gold guru's subscription newsletter service (I believe it was Weiss) to take profits in RGLD "above 24" - after the substantial move from the teens - and move proceeds to GG for better short term prospects.

Selling ensued, quickly followed by short traders who spotted an opportunity. (You may have observed that RGLD is a favorite trading vehicle.)

They broke the chart.

I've found nothing changed fundamentally, and their presentation at a Denver conference Monday was upbeat and, by all appearances, well received.

If short positions were compelled to unwind, the thin float and volume might fuel a volatile reaction...