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Vince Martin
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I am a stand-up comedian, writer, and long-time investing aficionado. I even had to chance to open for CNBC's Jim Cramer on his college tour. My first major label CD, "Live From The Middle," is now available on iTunes and Amazon.com. I had a front-row seat to the 1999-2000 dot-com... More
  • GDX, GDXJ Still Trailing GLD 0 comments
    Oct 6, 2011 3:46 PM | about stocks: GLD, GDX, GDXJ, SPY
    In July I published an article noting a split between the GLD ETF (physical gold) and the GDX ETF (gold miners). In the three months since, the split has continued:

    GDX, GDXJ, GLD vs SPX

    Note that the GDXJ, which had held up well, has a 30% divergence from the GLD. 

    Is this, as I've hypothesized, evidence of a split between equity and commodity investors on long-term economic health? Input costs for the miners (namely oil) have dropped, so steady output prices plus lower input costs should be bullish -- not responsible for a 20% loss. Or is the gold market more psychology-driven (as I argued this week), and perhaps facing the long-sought bubble?

    A curious market right now.
    Themes: gold Stocks: GLD, GDX, GDXJ, SPY
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