Sunday, May 20, 2012

GDX and Gold

GDX is barely correlated with SPY, but highly correlated with GLD

Gold futures are up nicely, that should mean my double down on GDX calls should see a nice pop Monday AM


  1. Steve awsome calls the last little while.. your 975 - 1040 target box. on the spx.. You see that playing out this year or ?

  2.  Probably not down to 1000, that would be "too upsetting", and even a QE 4/5 that rocketed the SPX back may not be enough to get Dabama and Bennie back in office.    After a run to 1350 (B50 line) we could go to 1200 to create the scary sheeple beg for QE and election stick save.

    That is still a good a theory as any.


Insightful and Useful Comment!