All I can say is this little ETF, much like its really big competitor the Market Vectors Gold Miners ETF (GDX), officially hit the two-year nadir (bottom) in share pricing. These ETFs have a barely detectable pulse rate, and the financial paramedics have been called.
Maybe, just maybe, this is the contrary indicator so many of us have been waiting for. Or, maybe gold and silver stocks and the entire sector are comatose and waiting for a kiss from Prince Chow Mein? Having recently anointed myself the Prince of Chow Mein, I officially "kiss the sector" and await her awakening. Prince Charming, if you read this, please kiss "her" as well. Good luck to us all!
At the time of publication the author had positions in ABX, SLW and GDX.Follow @m8a2r1 This article was written by an independent contributor, separate from TheStreet's regular news coverage. EXCLUSIVE OFFER: Jim Cramer's protege, Dave Peltier, only buys Stocks Under $10 he thinks could potentially double. See what he's trading today with a 14-day FREE pass.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV