As of this composition (Sunday night), gold and silver are both blasting to lifetime highs yet again. Silver is particularly strong, up about 7%. I didn’t realize this, but there’s an ETF out there called ZSL whose sole purpose in life is to let people take advantage of any weakness in the price of silver. as you can see from its chart, it has been an incredible cash destruction machine.
The double-inverse ETF mentioned above apparently caught the guy of a chap on WSB, who decided on Friday to pour the entirety of his portfolio into it. I suspect that at this very moment as I am typing these words, he is banging his head against his keyboard or praying for some kind of crazy overnight reversal. Here is what his position looked like shortly after he entered it on Friday:
