We were up over 6% profit on our gold mining company this morning when Goldman started pounding the table to sell gold and some cheesy twitter guy said to take profits in my company. Well...I was busy and I saw our shares were down by 4% by the close. We wanted to buy more along with Goldman...it was a curious thing because gold was up. A huge block went through after the close and sure enough we were back up 6% in the dark pools of after hours trading. Someone really wants our shares. I don't blame them! We will buy more on the breakout.
I found out why the cheesy twitter guy said take profits in my company....he was short. He meant cover your short! In other words- Buy! Btw- he has 1000's of followers. Actually, he made a good call because he started shorting it higher for a quick profit in 4 days. I had to really dig deep to find out that out.
The Word on The Street is: "Sell your gold" which really means "Buy back all the gold you shorted" The massive profits you made the last 12 months on the short trade is over. If you don't want to cover, we will let you buy ours at $1600/oz. in 6 months (if you're lucky).
"If you're short gold, better fold" ;)
