RE: RE: reaction BMO Precious metals fund had 103 Million Net Assets as of Aug 31. Burkina Faso wasn't listed specifically as a country they had exposure in, and non-listed 'other' countries made up 2.2% of their portfolio - so if that was ALL VTR it would have been around 2.6 million shares. Figuring that's unlikely I've been guessing they had between 500K and 1 million as a position, so 1,1 million dumped would be at minimum near 50% of their holdings, and more likely close to all of it (of course some of that volume is retail, but the character of the selling makes me think the majority is institutional).
So BMO's got to be getting close to out - which would have mattered prior to today, but now there are so many others desperate to unload that BMO's position doesn't matter much (to me) anymore.
My bet is VTR gets brutalized in the market now for the next 2 - 3 weeks minimum, culminating in a capitulation selloff below .50 (as I said earlier). Then, if REALLY lucky, the whole sector will be so manic that the 'even pigs can fly in a hurricane' dynamic will take over and we'll get a nice bounce back to .90. Or more realistically, we'll be near the end of the seasonal move and the stock will just stay dead until they're forced to finance at .45 sometime next year.
Amazing, when you think about it that owning this stock is pretty much the only way to pick the right sector, going into what will be a bull market to end all bull markets, and still lose money in a big way.