bullmarketthinking.com / By Tekoa Da Silva / June 23, 2013
Following continued selling pressure and another major downward thrust in the price of gold last week, recent interview guest Gary Savage, shared some powerful commentary in a note to subscribers over the weekend.
Speaking on Thursday’s smash of the gold price, Gary noted that;
“About a month ago I vaguely remember something coming across my email…about a huge position in June GDX & GLD put options.Now I see why gold was held below $1400, and what was driving the completely irrational $75 drop in the pre-market Thursday morning. Wall Street was making sure their put options paid off handsomely before the June [21st] expiration.
Thanks to BrotherJohnF