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Huge Upside Potential for Gold Miners ETF off of Base
Truth be told, I am not the only one who sees the huge base pattern and the upside potential off of the Market Vector Gold Miners ETF (AMEX: GDX) base. So what will differentiate who gets the benefit of the forthcoming upmove that realizes the potential of the pattern? Three things: 1) longs that can hang in there amidst volatility and false starts between 38.20 and 35.00; 2) longs that will hang in there even if the overall equity market has another bout of downside corrective weakness; 3) longs that hang in there even if gold prices lag (or even decline). Am I one of those people that can hang in there? Right now, I hope so because the "reward" could be an enormous upmove in the gold miners from a 9-month base pattern.
