Today's action did give me a similar thought. I went short the mining stocks last week, added to that on Monday and went way overboard yesterday morning. I closed most of my short positions yesterday afternoon, but maintain my original short position. I think the fast stochastic, the slow stochastic and MACD all indicate there is some more downside in the HUI. But certainly the idea that this current action is a consolidation rather than a reversal is on the table. A Fall rally in precious metals, now that is something to think about. Good analysis and thank you for sharing.