Gold longs got wiped out today: UGL fell nearly 4%, while short gold ETFs like GLL and DULL collectively surged. This recent pullback in gold prices is really frustrating, with leveraged funds getting squeezed back and forth. Chasing rallies and selling on dips is simply a mill for grinding down human nature.
On the silver side, ZSL followed up with a finishing blow, and platinum ETFs couldn't hold up either.
Truly witnessed what "the strong stay strong, the weak get eliminated" means. Now we can only be more zen and not become the one licking blood off the knife's edge.
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