AMEX:GDX   VANECK VECTORS ETF TRUST GOLD MINERS ETF
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- Precious metals are late in their intermediate cycle and a decline is due.
- GDX has struggled to reach the 50ma, like it did in previous cycles, where it was rejected.
- GDX , GDXJ , Silver , all have not supported gold's relative strength .

- A stop run to the upside is possible, but is IMO unlikely at this timing.

Buying GDXS, a 2x short, at 15.77, stop 15.00. About a 0.5% risk.
Trade closed manually: Closed after observing gold's and GDX's strength this morning. I am still bearish, but think GDX may
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