Gold Miners ETF (GDX)

[dabonenose]

tom, I haven't the foggiest,,,lol.

I thoughtit was gonna start a run late last week and I bought shares, however, I didn't like the way things were shaping up in the mkts and I dumped out with a small gain.

There's alotta talk about the 5 year cycle in the S&P which calls for a 17 - 25% correction into the autumn. You would think this could motivate gold and bonds(TLT). Bonds did move today(Mon.), but miners were flat.

I think you gotta play both gold and the S&P on a day by day, week by week basis.

I'm completely on the sidelines right now and I'm not playing anything unless the stars are aligned.

I do think the miners have a good chance of a run to 33 if it can chug back above its 200 and 50 day mvng avg.(which just made the golden cross a week ago). If GDX is gonna move up though, it better do it before the 50 and 200 do a death cross,,,lol, IMO.