An Old Miners Prediction

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I was looking for a spreadsheet document just now when I saw a file on my hard drive called “GDX Prediction”. I was intrigued and I opened it up. It looked like this:

0401-spread

I couldn’t really tell what I was trying to get at, except that it was obviously some kind of analog, but I noticed that the final price level I predicted from nearly a year ago was $37.31; I glanced at the quote for GDX…….

0401-quote

Hmmm. I took a look at the date stamp on the spreadsheet (it was from May 11 of last year), and I dug through the calender archive of Slope, and I managed to find the post, which is right here.

So, errr, I guess this prediction worked out great, although I sure wish I had some more context! I’m as bearish on miners as ever, as most of you know.

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