If there was going to be a day for Bob Sticky Fingers Moriarty’s top pick to break its losing streak it was today, but it was not to be and all on increased volume, too. Maybe that’s just straight tax-loss selling as the recent volume isn’t big enough to be Kirkland/Agnico, but for me it’s Van Eck getting ahead of the GDXJ rebalancing due the end of this week:
With NVO a near cert to be cut from the list and 1.2m shares to dump, this week’s action fits. However and counterintuitively, this may signal a near-term bottom as Van Eck’s de facto autoshort unwinds, but there’s still no way your humble scribe tries to pick up pennies in front of this bulldozer. It’s Rattlesnake Hills The Sequel and, just like that scam, Brent Cook has gone all quiet about his pally pal P. T. Barnum PhD. At least Moriarty is consistent in his fawning homoeroticism for the man at the centre of all this wasted money; Sticky Fingers only shows you one face to ridicule, with Cook’s two faces you never know which one to choose. Deja vu all over again.