Sorry about the earlier post where the whole "blip" didn't come through...this is from an excerpt of Jay Taylor's newsletter.

Gold Share Correction May Already be Underway

The following was written by Roger Wiegand in his weekly publication, “Trader Tracks.”

Our Favorite Precious Metals Chart GDX Signals Correction.

We like the GDX as its composition of companies is the closest thing to a grouping of miners’ and signals that we prefer. Of most importance is the longer trend from one year ago to the present. While summer was flat, it usually is and this pausing is quite normal each year. Note the fall began at Labor Day near 40 and touched

the recent high of 55. We could probably see one of two things next: (1) A double top at 55 before more selling or, (2) Some channeled sideways choppiness with a following sell before the January rally starts taking gold and silver prices to new annual highs in both the metals and the shares. We are most anxious to say “Go” on the shares but need to ensure this selling is over.