![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, April 13, 2016 11:18:47 AM
Gold is down again today and GDX up a tad last I checked. The pump job is banking that gold goes up. It really really needs to now with the insane valuations that miners have. If gold doesn't go over 1300 bucks AND HOLD like the pumpers say then the GDX won't just correct, it will correct hard down to at least $17 and possibly lower.
Right now miners are in a dream world. Gold had better actually go up. Not the promise that it does but actually start moving up or the miner dream world with their ridiculously high valuations will turn into a nightmare.
Also much of this is what I was posting about last night. Shorts were heavily into miners and they got squeezed. I think most of the squeezing is done but it played a big roll into how GDX got to where it is. Now it is mostly pump job. Technical bounce, then crappy market, then gold went up, then short squeezing and now pump job. That is the order of events of how miners have been running for 3 months.
Knowledge + risk taking = prosperity
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM