GDX - miners continue to collapse

Whilst the broader equity market saw general gains, with the precious metals continuing to slide, the mining stocks saw even more bigger declines than Wednesday. The miner ETF of GDX settled lower by an extreme -7.3% @ $18.20. Downside target 15/14s.


GDX, daily

Summary

Despite Gold still yet to break core support of June 2013 - $1179, the miners are effectively in crash mode.

GDX looks set to collapse into the mid teens into November.
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*I am looking for a crash wave in the precious metals as early as next week.. with primary target of Gold $1000.