Copper Tone

making the most of a potent relationship

Among the eighteen positions I have, being long XME puts is my favorite. I'd like to go over my rationale.

It all begins with this ratio chart, which I've shared before. It is the multi-decade chart of XME divided by GDX, which quite plainly suggests we're heading lower (over the long haul). That is to say, XME will seriously underperform GDX.