Two unusually large dark pool prints were detected today in GDX stock. The first unusually large dark pool print came in at 1:10 PM at $30.56 for 7,001,250 shares valued at $213 million. The second dark pool print came in at 2:00 PM for the same number of shares valued at $213 million, again at $30.56. All dark pool prints on GDX stock today totaled more than half a billion dollars.
The first small dark pool print at 10:33 AM looks like a sell. The rest of the dark pool prints reported in after-hours look like buys. The reason I say that is the previous day’s dark pool prints were at $29.64. As GDX rises, we are seeing more dark pool prints. If these huge dark pool prints were sell orders, we would see GDX back down at $29.64 on August 27, 2019. Instead, we see GDX closing right at the day’s high.
The other reason I think the dark pool prints look like buying is that it came right after former Federal Reserve Bank of New York President Dudley said on Bloomberg that the Federal Reserve should punish President Trump for his trade policies and actively sabotage his reelection bid by allowing the economy to tank. Keep in mind that Dudley served, until last year, in the capacity of the second most powerful position on the Federal Reserve.
This affirms what I’ve been saying on the Saturday show for more than a year now that the Federal Reserve are globalists and they hate nationalists like President Trump and so there’s a good chance they will crash the economy to make Trump a one-term President. All the talk on CNBC that the Federal Reserve was independent and above politics and floating on this cloud of untouchable credibility just went right out the window thanks to Dudley’s comments today. If you haven’t already read Dudley’s comments, here they are. I encourage you to read Dudley’s opinion article because it offers a rare glimpse into how corrupt the globalist Federal Reserve really is and it reaffirms what I’ve long said. Now we know why the Fed hiked rates too far, too fast. It was Dudley like Federal Reserve voting members that wanted to punish the President for his anti-globalist stance against China. Who knew how much influence China had over even our Federal Reserve!
The huge dark pool orders came in after Dudley’s comments were disseminated in the mainstream media today. That sounds like some big institutional firms and their deep pocket investors bought gold and gold mining stocks on the revelation that the Federal Reserve is indeed in an ideological battle with President Trump: globalism versus nationalism.
The final reason why I think these large dark pool prints were buy orders is the daily chart of GDX.
If the unusually large dark pool orders were sells, the daily candlestick would not have exploded higher on August 27, 2019.
Disclosure: I do not hold any position in GDX.