Amidst an otherwise humdrum session, there was one standout: precious metals. Whether it was silver, gold, or anything else bright 'n' shiny, precious metals had a stellar day.
My largest position right now is a long on GDX, which is the gold miners' ETF. It was up nearly 10% today and — importantly — had sensational volume.
Poor old natural gas, however, had another terrible day. UNG is now down 85% from last summer (!) And remember, this isnt' some nutty Internet startup. It's natural gas (yes, yes, I know it's acting like a closed fund now, but you get the idea). I took on a "starter" position today at 9.50, but I'm not exactly a strong hand on this one.
I'm done for now, I think. Adios, muchachos!
