Looks Like Miners are Done Falling

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Ever since they bottomed in mid-December, miners have been on a tear. Until yesterday, I was skeptical, but now that GDX and GDXJ have completely blown up their last levels of resistance, I’d say the long-term bottom is probably in. They’ll probably sell off to somewhat more attractive levels than what we’re seeing now, but maybe the gold bugs are, at long last, going to see their glory days return. The precious metals bear market – – at least for miners, I’m not 100% of the metals themselves – – seems to have finished up late in 2013.