Next Leg Up $1336, page-59

...The HUI was underpriced in the later half of 2015 with a final crescendo of liquidation during the third week of January 2016. Most fund managers used terms as "regression to the mean" or "mean reversion". The reality is that gold mining stocks may have less predictive value today than in prior periods because of just how compressed they got. Look at the relationship between gold bullion and the gold miners  the GLD-to-$HUI ratio...




...The gold miners ought be on wheels again this week... IMO...