The $44.4 level had been the stop-loss level for GDX ETF and it was reached several minutes ago. Therefore, we suggest closing half of your speculative long position in mining stocks. Half, because the other half is based on the SP Short-term Gold Stock Bottom Indicator and there had been no stop-loss level for that indicator. We will provide more details regarding the current situation in the precious metals market in tomorrow's Premium Update.

Naturally, we suggest keeping your long-term precious metals investments intact.

As always, we'll keep you updated should our views on the market change - even if it means sending another message in several minutes.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA