Mark,

Very nice chart.

The target for DUST, depends obviously on how far GDX or really GDM pulls back I guess, but let’s use GDX, and assume they pullback the same.

I was showing a pullback to 15.35 on GDX, where the Wolfe wave target line is. Notice that on your chart, this is exactly where the 38.2% fib retrace is located.

If we pullback to 15.35 on GDX, doing just the straight 3x math, would send dust to $14.96, but usually on a run up for dust it would compound a bit, sending it to the low $15’s.

Now let’s do the math for your pullback scenario to $15 or let’s even say $14.83, which is the center of your target area, and the 50% retrace.

I’ll do the math to see where this should take DUST.

$16.89-14.83= 2.06.
2.06/16.89= .122 (percent change of GDX)
.122*3= .366 (theorized percent change for DUST)
1.366* 11.75= 16.04.

Straight 3X math says a GDX pullback to 14.83 should take DUST to $16.04.

Throw in some daily compounding on DUST’s rise, and I could see DUST going to $16.50 in your deeper than mine GDX pullback, but DUST just experienced a “significant” decay event, one that makes your $20 target impossible to reach with your GDX target.