Yeah, GDX making new lows again - if yesterday wasn't capitulation, I don't know what it would look like. I've been taking hedges on & off - it's getting ridiculous. I was really hoping for a gap down today and a V - bottom, but alas, it was not to be. New lows is not good news and things rarely turn around on Wednesdays, so I'm back to hedging and waiting it out.

You're right - the technical damage is too severe now. The whole commodity complex has been smashed, PMs especially. It will take time to heal.