Monday May 20 2013
| 27.00 | GDX130622P00027000 | 1.04 |  0.64 |
1.02 | 1.03 | 1,311 | 128,860 |
Trivia question what is the above quote?
Answer - there are 128,860 put options on GDX which will expire June 6, three weeks from today. Do you think GDX put options will be in the money at that time, ie, below 25.36 for everyone that paid 1.64 this past Friday.
Speculative Answer, Probably not. Markets rarely allow participants to do that well.
An alert reader provides Barry Ritholtz response (come on now Barry if you have been reading TMP admit it) to my suggestion that this may parallel 1987 or 1973-74. He thinks not but does not venture any guesses on what will happen.
Jim Rogers says the commodity rally is not over yet.
CEF
Metals appear to have reversed today. I can count five down in CEF Central fund and a big reversal today.
Gold
This suggests a counter trend rally. In the actual gold price big resistance is at 1525-1550.
The Dollar reversed today further suggesting a longer correction in gold and silver is due.
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