HUI and GDX May Have Further to Fall

The heavy look of two gold vehicles analyzed in today’s touts — HUI and GDX — strongly suggests that this selloff has further to go. Note as well in today’s touts that May Silver could have farther to fall.  Under the circumstances, we’ll hold off patting ourselves on the back after nailing some nice lows yesterday in GDX and GDXJ, lest we be distracted from managing risk if these vehicles should fall anew.