The symbol GDX (the miners) is one I follow with probably more interest than any other. It rivals even the /ES for importance, since – for whatever reason – it seems to be the most sensitive indicator with respect to my portfolio (which, ironically, has absolutely nothing at all to do with precious metals or miners).
The GDX broke an extremely important trendline today. I am hoping (for what that's worth – – which is zilch) that the GDX does something along these lines:
That is, a combination of a gap fill and retracement to the broken trendline, and then All Hell Breaking Loose.
At the moment, I have 99 shorts (all small) and 1 long (kind of big – GLD). I do not intend to keep GLD for long. If something like the above happens, I'll dump it once GDX gets anywhere above $60.
Until then, remember ……..Respect………Forgiveness…………Patience…….Comraderie. We all need that in a big dose right now. Please.