Here is My Warning
Gold is on verge of strong breakout to the upside. Once Gold breaks $1,380 to $1,400 all hell is going to break loose on shorts in the mining space. GDX has 52 million shares short for example. KLDX has 17 million shares short. Stocks tend to swing from overbought to oversold. KLDX is oversold. Once gold hit $1,400 an ounce KLDX should be grossing $300 an ounce. The funny thing though is that once break $1,400 the gold price is not stopping there. It will hit $1,450 to $1,500 quickly. Thats what I see in the T/A.