NCM was still down trend

NCM was still down trend since JAN 2012 SP departed from $30
Let us assume,
LOW on JUL 2012 = L1
HIGH on SEP 2012 = H1
LOW on JUN 2013 = L2
HIGH on AUG 2013 = H2
LOW on DEC 2013 = L3
HIGH on MAR 2014 = H4

Result, L1>L2>L3 and H1>H2>H3
low high and low low pattern, it was typical down trend.

The current cycle was bad for gold and gold stocks as
1) USD was up, up and gold was down, down
2) US econamy was better, better and gold was down, down
3) Supose gold and oil were up when wars were on. the current cycle was opposite. Wars were on but oil and gold were down

(I am holding the short position)