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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: tyc:> who wrote (66234)	7/15/2009 10:22:09 PM
From: stan_hughes	Read Replies (1) \| Respond to of 78411

I currently own 20,000 units. Bought them in the aftermarket at various prices in the upper 8s over the past few weeks when the issue price cratered off the IPO as POG went into a minor downdraft against the USD I wouldn't read too much into the daily fluctuations -- it doesn't have much of trading book established yet, and as such, it easily gets out of line, which presents the occasional bit of opportunity -- if I had the patience for capturing nickles and dimes I would trade it against the box vis-a-vis the underlying NAV, but I expect these deviations to shrink as the trading volume improves With respect to today's price movement, I believe it was slightly undervalued before today's trading, so there was a bit of catchup in there today that probably accounts for the perceived mismatched % return Note that this vehicle has a special provision that if its trading value deviates too far from its NAV, it will get converted into a ETF, so if you can buy it at a discount greater than the trigger point (and hedge it), then do it, because your arse is covered from getting stuck with it for any length of time at a discount to the underlying, because either the market makers will push back into line pronto or it will get converted into a GLD-like tracking fund