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Wall Street & Greece may be pariah today, but the Wall Street Greek blog is an expert authored, unbiased, independent research resource on the economy, stock market, real estate, commodities and gold & currency - We are sexy & syndicated reaching reputable publishers and private networks.



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Tuesday, November 04, 2014

Are Blackberry Shares Being Manipulated?

An article was published at Benzinga.com on Saturday October 18th and reached Yahoo Finance via Reuters on the 20th before being repeated within a weekly highlights piece over the weekend before last. Also a Bloomberg video report featured a strategist suggesting an investment in BBRY options based on the rumor. The original story, which is based on an unconfirmed rumor, gained steam and influenced the trading in Blackberry (Nasdaq: BBRY). BBRY was up 12.2% through the publishing of my piece on October 29 from the $9.49 close on Friday October 17th. Compared to the 7.7% gain in the PowerShares QQQ (Nasdaq: QQQ) through the same span, that’s an important gain. So the story influenced the movement of the shares significantly. But, given that rumors of a Lenovo (OTC: LNVGY) acquisition of Blackberry (Nasdaq: BBRY) were smothered in the past by regulatory concerns, which I first raised to the attention of the public in my article A Blackberry - Chinese Company Merger Serves Apple and Maybe Hackers Too, then how could this latest story carry any weight? So is it a rouse then, and who is the “source familiar with the matter,” who the author references? Might someone be manipulating the shares of the stock, and if so, how do we play it? See my latest report on Blackberry here.

Since my report was published, Lenovo acquired Google’s (Nasdaq: GOOG) (Nasdaq: GOOGL) interest in Motorola, so BBRY shares seem to have lost their support.

Disclosure: I have taken a short position in Blackberry (BBRY) through put options as of Friday October 31. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Monday, November 03, 2014

Gold Dropping as Predicted – Are You Ready to Listen Yet?

Gold is collapsing as I said it would over recent weeks, and as I reiterated recently in an article and in a piece about the Direxion Daily Gold Miners Bull 3X ETF (NYSE: NUGT) yesterday ahead of the predicted collapse in that security. The NUGT is now down roughly 44% over the last 3 trading days. So are you ready to listen to me yet?

Precious Metal Relative Security
YTD
TTM
SPDR Gold Trust (NYSE: GLD)
-3.0%
-11.8%
iShares Gold Trust (NYSE: IAU)
-2.8%
-11.7%
Sprott Physical Gold Trust (NYSE: PHYS)
-2.8%
-12%
Market Vectors Gold Miners (NYSE: GDX)
-18.6%
-31.4%
ProShares Ultra Gold (NYSE: UGL)
-8%
-24.3%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)
-60.2%
-77.4%
Direxion Daily Gold Miners Bear 3X (NYSE: DUST)
+7.3%
+53.8%
iShares Silver Trust (NYSE: SLV)
-17.2%
-26.5%

Over the years, I’ve been on the long side of the gold trade and the short side of the gold trade, which has confounded many followers of my column. In fact, my articles have been criticized by people on both sides of the trade who are unaware of my historical record and see me as a perma-bull or bear, aka their enemy. It’s a real shame, because while people are arguing they are losing opportunities to enhance performance through a more nuanced and nimble trading strategy around the securities tied to gold. See my latest report on gold here.

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NUGT ETF Down 44% in 3 Days Since I Predicted its Downfall

The drop in the shares of the Direxion Daily Gold Miners Bull 3X ETF (NYSE: NUGT) had already been precipitous since August, but 3 trading days ago I said buying it (even here) could be akin to catching a falling knife. The Direxion Daily Gold Miners Bull 3X ETF (NYSE: NUGT) was down 61% since August 12, on a somewhat steady drop to the close of $19.35 for the levered ETF the day before I published. But I presciently wrote that it would fall further. In the 3 days since, it collapsed 44%. I said that based on my outlook for gold, buying it now could be akin to catching a falling knife. In my also prescient and profitable report, Gold Breakdown, I estimated the SPDR Gold Trust (NYSE: GLD) and gold prices could slip 11% or more to a target of $105 to $95. See my report on the NUGT ETF here.

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