Post by
stanjs on Jun 14, 2021 11:12am
somethings changed today EQX opening >1million shares bought
Gold down, EQX up today.
Massive 1million buy orders at open.
There's some twitter chatter about GDX rebalance (adding Gogold, Victoria Gold etc), but I couldn't find any official details about this rebalance.
Comment by
Captaincommodit on Jun 14, 2021 12:17pm
shocked, was expecting a -6% day maybe, sentiment is turning on eqx
Comment by
alvarez2 on Jun 14, 2021 3:39pm
Time and little patience........the sun will shine thru.
Comment by
stanjs on Jun 15, 2021 8:19am
GDX may need to buy 3.3 million shares of EQX as part of rebalancing.
Comment by
stanjs on Jun 15, 2021 8:28am
Source is twitter handle @crofin67 Rebalance announced 11 jun, effective 21 jun NYSE Arca gold miners index is the basis of GDX. https://www.theice.com/market-data/indices/equity-indices/rebalance-schedules
Comment by
stanjs on Jun 15, 2021 9:03am
So GDX needs to buy 3.3 million EQX shares! Rebalance announcement date 11 June after market close is already over. So Monday 11 June, no share price reaction. But Monday 14 June, buy mode switched on! The announcement is not public because you need to pay for access to the NYSE Arca index. I think the twitter poster got it from Bloomberg terminal or some subscription service.
Comment by
Gottheblues on Jun 16, 2021 10:31am
Hope you're right but that cant be "exclusive news just for us" . EQX should increase much more than now. There are no free lunches as they say.