Direxion Daily Gold Miners Be (DUST)

[Sgreg]

You are very smart and make good calls but I think your original idea is the right one. There is no doubt about it. Miners are in a pump job. The chart shows it too. You know what the GDX actually should correct down to and I agree with that as well. GDX correcting to only 20 only takes out the parabolic pump job part. That was the part you were no expecting. That part is phony. GDX will correct down to what it should have corrected to in the first place and that is 17. Don't let the pump influence your good judgement IMO.

Only caveat is unless gold jumps over $1300. As of now though I think your original opinion will be dead on accurate.