Harry’s prediction more than a month ago — reiterated and amplified in the chat room on Wednesday — of a tradable low at 46.15 was a near-bullseye, so I’m establishing a tracking position of 400 shares for your further guidance. For now use a 46.18 stop-loss. Please note that there is potential downside to 44.87 if GDX breaks down. _____ UPDATE (2:49 p.m. EDT): That was quick. We exited on the stop a short while ago. Someone in the chat room asked whether the tight stop might have been a typo. It wasn’t. My intention was to deny GDX the opportunity to play me — and anyway,”rules is rules.” By now, we should have learned that any trade we do in any vehicle even remotely tied to mining shares should not be based on faith, hope, trust, ‘fundamentals’, or, heaven forbid, optimism, but on purely mechanical indicators — with a dollop of cynicism, and another of skepticism, thrown in for good measure.
