Starting a new topic for GDX
Gold Miners ETF (GDX)
Can us Aussies trade this in Aus or a similar Aussie one on the Aussie Stock Exchange?
Maybe an option play........Oct. calls
The underperformance of precious metal miners relative to silver and gold bullion has become disgraceful. It has been the subject of many an article lately and illustrious mining investors have been pointing to this anomaly.
- Listen to John Doody,
- Listen to John Embry interviewed by James Turk (section of gold stocks starts at min 18)
- Read ‘Peter Grandich on Junior Miners’
- Read: Value propositions in turbulent times (B. Sylvester interviewing Ch. Oliver - The Gold Report )
- Read the blogpost of Peter Schiff
Miners kept on sliding away, dragged down by the stock market sell off during most of the last few weeks, often unable to only respond to precious metals rallying ever higher. Leverage of gold stocks to rising gold prices seems merely a memory of an era almost forgotten. /Unquote
But misfortune is coming to an end ...
Quote:OutlookMiner underperformance has been lingering on for longer than we could imagine, considering the sustained precious metals rally we have been witnessing. The continuing stock market sell off has been a major drag on miners. Yet valuations relative to gold or silver are already on a near crash level, as all long term supports (even the one that held since April 2009, in the aftermath of the stock market collapse) have been giving way.Unless the current stock market decline is to aggravate and prolonge into autumn 2011, we are poised for a recovery of the precious metal mining ETFs. /Unquote.
Did anyone ever consider GLDX (Global-X gold explorers ETF)?
It's still small as compared to GDXJ but with its focus on explorers only, it seems unique. GLDX has fewer positions: any buy-out of one of them may boost its value.
Global X factsheet: http://www.globalxfunds.com/fundsummary.php?fundid=19122&catid=22
Blogpost comparing GDXJ and GLDX: http://gwyde.blogspot.com/2011/02/gdxj-or-gldx-what-to-choose-in-gold.html