AMEX:GDX   VanEck Gold Miners ETF
True Bull markets in Gold are led by the miners, as spec money bids the sector and industry higher.

We know that Gold has outperformed and had magnificent strength to the upside however its counterparty GDX has lagged.

Seeing relative strength in Gold & relative weakness really emphasizes what were going through... a Liquidity crisis.

Gold is moving on fear and miners are lagging.

If gold softens up just a bit GDX will see a greater move to the downside.


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