Zeev's Turnips Patch-No Politics (ZEEV)

[ItsAllCyclical]

*** Gold related post (Gold ETF) ***

The Dollar started falling again far sooner than all this news about the ETF finally coming public (after how many "false starts"). I personally think far too much is being made of both it's positive AND negative effects by both gold bulls and bears alike. I would think this ETF would try to own the bullion like CEF in Canada? If not, I agree I'm not crazy about owning an ETF that owns the futures vs the bullion. With respect to shorting the ETF, the other gold markets are so much larger that I would think that arbs would step up and close any disparities that get too great. Just my swag.

>> I think we're already seeing a loss of interest with the goldshares, many of which are still dramatically below their 52 week highs while the Pog has been setting new 16 year highs.
almost daily for the past week or so. <<

There are some that are at 52 weeks highs. Keep in mind we're still in the middle of tax loss selling at least w/respect to individuals. I think this is two-fold. Once we get past the next month and if gold continues higher ST you'll eventually see the shares catch up with a vengenece. People have to believe that prices above $450+ could be sustainable for a few years and you'll see fireworks. I'm not sure if we head straight up here or we have more sideways action, but this past friday was certainly nice.