Despite the broader market seeing rather powerful net daily gains, the gold/silver mining stocks saw significant weakness, as the precious metals lost their 'fear bid'. The ETF of GDX settled lower by -3.5% @ $13.13. The Sept' low of $12.51 looks set to be broken under.
Today was a classic example of how the gold/silver mining stocks can still fall, despite an advancing broader market.
Broadly, the precious metal mining stocks remain within the downward trend that began in Sept'2011.
GDX looks set to lose the Sept'2015 low.. .and will probably lose the $10.00 threshold by early summer - not least if Gold is <$1K.
*I continue to watch over a dozen individual mining stocks, and considering the continuing commodity carnage, not all the miners can be expected to survive.
Those that do survive though, they are clearly already at incredibly attractive buying levels.
yours... watching and waiting.