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To: The1Stockman who wrote (1724)	6/17/2014 9:55:36 PM
From: Robov	1 Recommendation Recommended By CurveBall86 Read Replies (1) \| Respond to of 1811

I don't think I've ever disagreed with your overall analysis James and I maybe I don't here. Maybe I am just reading what you are saying wrong. What I think I'm hearing is that in your view the bottom is not in and that you are expecting lower levels yet. If so I would respectfully disagree based on what I'm seeing. That's not to say we couldn't see a pull back as we have been, given the move the miners have experienced recently. Such as MUX's move from 2.00 to a recent high of 2.77 and as you rightly state the GDXJ. But that said I have been following, charting and posting updates of what I see on the GDXJ and GDX. And that is a classic H & S bottom pattern that is confirmed IMHO by the massive increase in volume since forming the head and continuing to carve out the right shoulder. Last week saw the greatest influx of volume (30.1M), as the chart bears out, coming off the formation of the right shoulder and the bottom candle that is the right shoulder was the 4th largest volume (23.1M). The volume alone tells me the miners have put in a bottom and will see highers levels as the year progresses. The 2nd chart which goes back to 2010 and the move down from the top really put the massive increase in volume at multi year lows into context. Someone is accumulating and this H & S pattern along with the big increase in volume is a classic Inverse H & S. In all fairness a breakout through the neckline and a possible retest of the neckline before moving higher is still required to confirm the pattern as a valid one. But all other parameters are being met at this point. Regarding coming back down to fill gaps and such....I know we have become accustomed to this given the fact that we have been in a bear market for the past 3+ years, but that said, if the trend changes as I believe it is some of these gaps just may be left behind until the next bear market. After all we have around 7 - 9 daily gaps on the upside in the GDXJ that were left behind when we went from bull to bear market with the highest one going back to 11/12/12 a year and a half ago. Just my two cents FWIW. I am the most confident that I have been since this downturn started.