Hi Orwell, Great work as always. Will be watching how this plays...

Hi Orwell,

Great work as always.  Will be watching how this plays out with great interest.

Just going back to the VanEck re-balance, do you have strong opinion either way on the chart of SAR?  (same question goes for any of our chartists.)

Having done a bit more analysis, I've discovered that the number of SAR shares held in GDXJ is a much higher % of the average daily volume than most others in the fund.  This is important of course, as the buying expected on the rebalance date should have a greater impact to the SP, if there are not enough sellers to take up the slack.  So while RRL might have appreciated 35% over the quarter, and SAR 13%, SAR actually may see a bigger move up in the match.

I also really liked SAR fundamentally last time I had a look (a few months back), so it could potentially be an opportunity to build a longer term position...if of course the chart looks good.

@loki01, would love you take on SAR's fundamentals if you have the time or inclination.

Thanks again all