The problem is SLR went up way too quick. So for people like me looking to buy a big position in gold i feel like its already run its course and ive missed the boat. I guarantee you a lot of people feel this way.
The SP was 32 cents on April 25 and in one month in May it was almost up DOUBLE! To me, i cant see that it is going to double again any time soon therefore has no value to me in short-medium.
It was way too fast to get a position and anyone who didnt get in will feel like its not worth getting in it anymore. The same thing happened with TRY. Albeit they did have teething issues but It went up 300% in a couple of months. Any investor would have felt it was finished and it has not moved since its 300% high.
The only way this will rise again is if it goes down and bounces back up. Similarly RSG blink and you missed it. Not sure how rsg will finish but its a huge risk as there will be lots and lots of people who would have made a fortune wanting to take profit effectively bringing the price down. The only thing keeping RSG going at its CURRENT RATE is FOMO.
SLR Price at posting:
48.5¢ Sentiment: None Disclosure: Not Held