why do you think "ultimately" GDX goes higher ? my projections show $ 2.50 fair value yes ie $ 2.50 .... based on fundamentals and gold price projected down under 500 in 12-16 months
Gold never sees 1250 again for a long long long time.. market always does the unexpected.. which is gold at 750 may 550.. or even 275 (2002 price).... did u ever expect oil to hit 23.50 when it was at 125 ?? honestly ..
for the longs. Very important support levels have collapsed. The probability tat gold has resumed its
down trend and headed to test its 200dma at 870 is now over 98%... under 1000 most miners will
fold, 950 and under ALL miners will be toast... NUGT may be headed for 1.xx and a reverse 1:10
split (to avoid frequent splits, they may just as well do a 1:100 )... longs have plenty reasons to