Wednesday, February 18, 2009

GDX (Gold Miners ETF)

now that I am getting convinced that Gold and Silver are topping out, I thought I'd draw some lines on a chart of GDX.

I'd favor one of lower lines, but then I'm something of a perma-bear when it comes to mining stocks...

but if I happen to be wrong (again) about the direction of the Metals, then there could perchance be a blow-off. GDX could go all parabolic and shit. hit 45 or 50 or some ridiculous number.