GDX has been hammered and is searching for a bottom along with GLD. It could always go down further, but I started to nibble on GDX and GG late yesterday. I think the current low around 22+ is significant in that it tells you the worst so far the stock has done under extreme duress, and around three points above that level I started to slowly accumulate GDX. I also like GG as the best of the big boys, and its pulled back from the ten point bounce by six points. GLD will as usual set the tone for GDX.