Market may remain illogical longer than most of us may remain solvent.
On the other hand, much news will be coming out re euroland and also potentially affecting the US dollar, which is now overbought.
May or may not have reversal, but we are close to another POTENTIAL reversal point for currencies, gold/silver and miners.
Usually this type of washout is followed by at least SOME sort of bounce.
Personally am expecting some bounce this week, but have overweighted elsehwere in various biotech stocks in the interim...still holding remaining shares of EXK and 10 other miners...mostly accumulated on the way down. MIGHT do intraday bounce trade....but will not continue with tiny 'munches' to hold...unless I see clear reversal in gold/silver.
Draw trendlines for EXK, GDX, GDXJ, under all the lows short term...also on daily, weekly, montly chart...and watch all indicators re MONEYFLOW.