Zeev, ASA is still going higher(it has had higher lows for 5 days, and higher highs for 4 of 5 days) however,as GSS and GLG are now doing, ASA will soon hit a plateau. If ASA can, then get through that plateau, then that could be about halfway up from the bottom, projecting it will go to 38-39, but if it can't get through that (upcoming) plateau, that may be all there is, for awhile.
What is ASA? It is a Closed End Mutual Fund that invests in South African Gold stocks and like most Closed End Mutual Funds, it trades at premiums and discounts, to it's Net Asset Value. As of last Friday, ASA was trading at a 7.6% discount to it's Net Asset Value (according to BARRON's), when the market particpants hate Gold, I've seen ASA trade at a 20% discount and when the market particpants love Gold., ASA will trade at a 15% to 20% premium, to it's Net Asset Value.
There aren't too many Mutual Funds that a person can trade Put and Call Options on, but you can on ASA.
Jim
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