Hopefully gold will rebound after the beatdown that has happened since the 14th.
I am really starting to get concerned that there will be a lasting rally out of this latest decline.
My intention is to LIGHTEN my miner positions, if GDX can make its way back to 26 range.
Of course, this is likely a read that we are finally going to rally to 30+, now that I am considering lightening my position.
But if we do have a deflationary collapse in the months ahead, or at best a negative market outlook, I can't see gold miners rallying to new highs.
Thats not to say I will go completely flat, I couldn't stand it if I am wrong.
I encourage subscribing to Gary of Smart Money tracker, his subscriber blog is calling for GDX hitting 22 and below.