Loading ...The open interest put/ call ratio for GDX, which is the ‘big boy’ running the big shares, has been buoyant of late, almost able to push above unity. This is what sponsored the dull squeeze in the shares these past weeks.
Now that opex is past, and with the COTS reversed, one must be defensive, especially with aggressive trader sentiment (think silver futures, slv, gdxj, nugt, jnug, etc,) still unequivocally bullish….stubbornly so…for an insanely long period. (records I’m sure)
You need to go day to day with these knuckleheads now that derivatives and hedge fund / speculator betting practices completely control prices. The markets are nothing but independent video games completely removed from fundamentals.
This is why stocks can fall now, because bearish speculators / hedgers are finally exhausted — not buying as much downside protection / speculations.
Cheers