The gold stock "pause" is on. . .
In August, gold broke out of a months-long trading range. . . and climbed about 10%. Gold stocks followed suit. From mid-August, the big gold stock fund Market Vectors Gold Miners ETF (GDX) jumped 23%.
But over the last few weeks, our colleague Jeff Clark has been warning gold traders to watch for a break in this rally. And gold has played out exactly like he expected. . .
The metal is down $50 off its highs over $1,790 an ounce. GDX is down about 7%. And Jeff believes there’s more downside ahead. If he’s right, there’s going to be a great trade in small gold stocks…
To sum up, the mining stock correction has arrived. Smart traders will use this correction to put on more mining stock trades. . .View Full Article