In the previous tout, all my targets were given in green, implying higher prices are coming. However, since my gut feeling is that August Gold is about to relapse down to the 1278.20 (or alternatively, 1271.70) target given in the current GCQ14 tout, you should hold firmly in mind the bearish, 40.42 target shown (see inset) for this vehicle just in case. GDXJ will of course have a great opportunity to turn higher from 42.55, the midpoint HP support here, and you will risk little bottom-fishing there with a stop-loss of perhaps 6 cents. But if the stop is hit, expect more slippage to 40.42, which also could be bottom-fished aggressively with an absurdly tight stop-loss. _______ UPDATE (July 23, 9:03 p.m. EDT): Today’s slippage to 41.82 was not exactly a sign of robust health. As as result, the 40.42 target is in play. It can be bought aggressively with a tight stop if the opportunity should arise.
