Originally Posted by
etftalk
Gold just ticked positive on the day and GDX is actually making a nice run off of the lows. The paranoid person in me wonders if the market makers ran the stops and are ready to take it higher again. I am not very familiar with the trading patterns of GDX. Maybe this happens often?
The only thing that would make me want to buy GDX in the short term, is a move above Friday's high today or tomorrow. If it happens today, we'd have a positive outside day and a bunch of confused traders. :D
I may short it is it can't get above 32.50.