CAPS-Elite dominated by herdlike goldbugs
Today is a perfect example of weirdness in the top of the CAPS world. My score dropped by 10 points as my ultrashorts fell and some of my banking red thumbs turned up against me. My accuracy also dropped from more than a full percentage point. However my rating rose from 99.5 to 99.54 despite my failings. Why would this be, you may be asking? Because the kool-aid drinking CAPS elite have risen to the top based off their fanatical love of all things shiny. The silver ETF (SLV) has a preposterously bullish bias here. Among the top rated players... the top 34, count them 34, players sorted by rating all have SLV as an outperform. The only 99.5+ rated player with a red thumb on SLV is Mavericktrading, and he is rated precisely 99.5... What does this all mean? This means that the top of the CAPS game is infested with a herdlike tendency to "precious metals." Unlike this converts, I am a heathen towards their faith. My underperforms against the likes of Goldcorp and Yamana scored big today. Once the metals/oil/ag bubbles burst, you're going to see a shake-up in CAPS as we have a lot of one-trick ponies (I'm looking at you Downwithinfidels) at the top right now.
Just in case you didn't see, the SLV, which the elite are all so gaga about, was down $8, or almost 5% today. Ouch!