Old Faithful

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In spite of the bizarre-o, always-go-up market we're in, there is one financial instrument that remains staunch to me: GDX. The miners ETF seems to be increasingly marching to the beat of its own drummer. Even on a day like this, where equities are zooming to nosebleed levels, the miners are down (again) more than 1%. The chart below contrasting the SPY (black) with GDX (blue) sums this up neatly.