That was where the big drop occurred due to being dropped from index. Those shares have now rolled over and many shorts are trapped here. BTW- this was a no-brainer to buy at $1.05 because it was 19.3% under the 10 DMA, while gold was only 7.5% under the 10 DMA at the time. Only chartist would be stupid enough to short at that level. There used to be a guy called "oldster" on Murphy's blog that was a chartist that we actually tracked his performance - he was wrong over 68% of the time (only right 32 %!) yet people actually followed his advice! I have to say that Murphy has some very stupid subscribers.