With the precious metals of Gold and Silver seeing net daily declines of -1.0% and -2.5% respectively, the related mining stocks were naturally impacted. The ETF of GDX settled -4.6% @ $15.16. The outlook remains broadly bearish into next year.
Yes, the current Oct' net monthly gain of 10.3% is bullish, but the broader trend is still bearish, not least as a new multi-year low ($12.62) was achieved just last month!
My guess is that the metals will see another significant down wave into year end... and probable also the first 3-6 months of 2016.
With the USD set to (eventually) break back above the DXY 100 threshold, the metals will face increasing downward pressure.
.. and if that is the case, the related miners will be dragged lower.. regardless of however strong the main equity market might be.