Miner Skyfall Continues Apace

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There's no probably no short idea for which I've received more flak over the prior year than miners (symbol GDX). Yes, my analog on them broke, but the fact is that, over time, my bearish disposition on them has been correct.

The breakdown is accelerating. I think this continues to be one of the best shorts out there. The one thing I've learned is not to dare utter such things on ZeroHedge, which tends to be Kook Central. I'll stay here, where a few folks actually don't believe gold is heading to $5,000 an ounce.


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