The bad guys have struggled so hard lately to beat this vehicle down that I’m going to lower the bar for anyone eager to climb back aboard. Above the 38.17 external peak (see inset), GDXJ would look enticing once again, although the implied rally would likely awaken too many bulls to give us an easy entry via camouflage. In any case, I’ve set a screen alert to tell me if and when the trade is ripe. Stay tuned. ______ UPDATE (November 8): I just posted the following in the chat room: The news is bad. Today’s sleazy gap-down opening occurred just below the p midpoint support of (60-min); A=48.20 (9/19), B= 34.81 (10/14). That means this rally is distributive and to be shorted near p=35.25. The D target — better sit down for this — is 28.59.
