GDX

A few people have emailed me about GDX (short and long), don't try to catch a falling knife, there's almost always going to be a reversal process. Beyond that, as I don't have time to lay out every chart for GDX, let me just give you this, you can see what happened here very clearly.

GDX was accumulated enough to take the gap down move and create something they could sell/short in to, that's what they did. As a long, no way, not here.

As a short, I wouldn't consider Puts right now, as for the 3x leveraged short ETF, DUST, there's decent accumulation there, I'd prefer a pullback rather than chasing here, but I do believe over the course of a week or two it will be significantly higher, at least well clear of the recent congestion.