Loading ...“It would appear that the near-term path of least resistance for miners stocks and ETFs is down and there is anecdotal evidence to support that claim. As we have previously unearthed, investors have a tendency to embrace bullish leveraged miners, such as the Direxion Daily Gold Miners Bull 3X Shares (NUGT) and the Direxion Daily Junior Gold Miners Index Bull 3x Share (JNUG) , at the wrong times. [Getting it Wrong With Leveraged Gold ETFs]
Making that scenario all the worse is that embracing JNUG and NUGT means eschewing the Direxion Daily Gold Miners Bear 3X Shares (DUST) and the Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) .
Over the 30-day period ending Oct. 2, NUGT and JNUG had seen positive creation activity to the tune of a combined $23.2 million while investors yanked a combined $9.4 million from DUST and JDST, according to Direxion data.”
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Is that supposed to be some kind of contrarian bullshit? That makes absolutely zero sense. If money flows into a sector it should move higher not lower. At least that’s how it works in every other stinking sector.