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richardpossum
gold stocks are held by funds that are currently meeting unprecidented redemptions from clients who have either gone bankrupt or who have recently been bailed out and are now cleaning the slate. Remember, when the boss says sell, you have to sell regardless of whether you think its a good idea or not. You just dont know the what the reason may be for selling. All you know is that they need cash and they are sellers.
One other thing I've noticed during this commodity cycle is that gold stocks have been bought by fund managers within the same fund as copper, nickel, zinc,, iron ore and uranium stocks. So when they get redemptions, they have to sell their positions across the board. I know it makes no sense, but gold has been clubbed into the same category as other commodities and treated in much the same way..
