http://www.thelongwaveanalyst.ca/dow...

I found the above chart on Ian Gordon's website, on casual observation one can see that after the initial drop in 1929 , homestake seemed to brush off the big drops later on in the bear market.

I think we all undersand the difference between a junior and a producer but given that a junior is corellated to the HUI, the index behaviour if positive will put a floor under the junior market