GDX - a rough month for the miners

With precious metals seeing significant weakness across February, the mining stocks were naturally impacted. The ETF of GDX saw a net monthly decline of -4.5% @ $21.28. There remains high probability that the lows from Nov'2014 ($16.34) will be taken out this spring.


GDX, monthly

GDX, daily

Summary

Suffice to say... after the net monthly gains of Nov-Jan, the miners... along with precious metals, are back on the slide.

New multi-year lows look due this spring.
-
It remains entirely possible that many mining stocks will see a further 30/50% lower between now and the late summer.

*holding to downside target for Gold of $1000, perhaps 900/875 by Sept/Oct. From there... a key floor, which would by default, be a time where I will be interested in being long both the metals.. and miners.