Safe to say gold is not a crowded trade anymore

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It's safe to say gold is not a crowded trade anymore.  Look at Direxion Daily Gold Miners Bull 3X Shares ETF ( NUGT , quote )

Image Courtesy Andrew Kuznetsov: http://www.flickr.com/people/-cavin-/

if you want to roll bones on oversold conditions.

The trade is not for weak of heart but gold and miners are way overdone.  The chart below is of net positions in gold futures and option combined held by institutional money managers.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , International , Stocks

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