I agree, they are taking GDX down to build their positions, probably because they missed most of the move, and they know GDX will be higher in December. If they get a nice low price in September, the year end bonus will be good. I just think they want GDX down to at least 23-22. Look for the doji bottom, abandoned baby on the daily or the weekly would be great to go long.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.