The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (172700)	12/19/2008 10:31:32 PM
From: orkrious	Read Replies (1) of 306849

We'll figure it out next week. It won't take that long. Lance explains: The junior and intermediate basket was rocked by another quarterly rebalancing in the GDX and was hit for 8 percent. As we’ve seen on the final option expiration of the quarter for the past 3 quarters, the GDX ETF (which is based on the market cap weighted GDM index) rebalanced right at the close today, and as usual, the small cap gold shares couldn’t handle the sudden selling (or buying) volume at the close. For example, SA rallied sharply at the close to end up 20 percent. On the other hand, the rest of the basket was spanked. GSS, in particular, fell 50 percent, with all of the decline coming at the close on the GDX rebalancing. NXG fell 24 percent and was also a victim of the rebalancing. MFN, which was up 10 percent all day, wound up closing down 7 percent thanks to the rebalancing selling at the end of the day. We’ve seen this craziness before (GSS to the upside in Q2 and NGD to the upside in Q3), and the moves always get reversed out on Monday. So for those that may own some of the names that got smoked, I wouldn’t worry about it. dailymarketsummary.com

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