Direxion Daily Gold Miners Be (DUST)

[Sgreg]

Yea, it is really starting to look like it is a possible repeat of UWTI in early February and I wouldn't be shocked if the bottom is what or around UWTI's was. That would be $1.18 which also equates to around $27 for GDX. I know this has nothing to do with UWTI but I was in UWTI for those bottom prices and I am having deja vu right now.

A month ago I thought there was a decent chance GDX would be able to top at $27 before having a big correction and I think that will play out. My estimates are DUST bottoms at 1.10-1.15 and JDST bottoms at 1.40-1.50. They will bottom before the reverse split IMO and already be in the early stages of an uptrend at reverse split time. I anticipate the up trends (or strong counter trend) taking DUST to $25 and JDST to $30 (post R/S).