Keep it simple, stupid!

Assuming this is a genuine trending bull market in the metals and miners, I would expect the 50, 100 and 200 DMAs to hold for at least a year before a really serious/long term correction takes hold.

Often times, after the initial large thrust up out of a bear market, you will come back down to test the 100 or 200 DMAs.  The 100 DMA is a very very important MA during an ongoing uptrend in particular.

For GDX the 100 DMA is $31, for gold $2215 and for silver $26.  These MAs are sloping upwards, so the longer it takes to get down to those MAs the better IMO, but I wouldn’t be shocked if we get down there extremely quickly (next week?).

Since we are early in this bull, the 100 and 200 DMAs aren’t that far apart from each other yet.  So it’s possible we get an extreme shakeout down to the 200 DMAs.  It would mark a painful correction, but one that is very very typical after a first breakout move.

Of course, it’s always scariest to buy when price is falling.  If you believe in the bull, any of the above targets represent great entry points IMO.