RE: RE: Very strange trading..Traders are cautious with SMF at this point. Lower than normal volume early as investors wait to see what the day brings.
This week in particular is one where the price of gold can be unpredictable as can the share price of most golds.
Long weekend coming and some will pull money off the table. You also have some pretty substantial US economic indicators being released over the next 3 days as well. Initial claims, Non farm payrolls etc
There should be some more drill results shortly which should spark the share price especially if the price of gold remains stable. If it starts to drop substantially then the ETFs get sold off and stocks in those ETFs get sold off too.
The shorts may come out again as well.
With the price of gold between $1200 and $1250 SMF should have another strong quarter
Wes