Wild day for the junior miners.

Today's range on JNUG was $2.58 - $3.34.  TRX, for one, has gotten creamed.  But today I think it put in a significant bottom at a prominent support line and now if anyone should be afraid it should be all the shorts who have piled into that stock.  If gold begins heading up like I think it will, those shorts will be slitting each other's throats to get out of the shares. 

Longs in this can only lose 100% of their bet.  Shorts loses can be unlimited.  At the very least it will move back up and test support from below at $1.50 which is roughly a double form here.  More likely though, it will smash through those resistance lines and hit at least $2.40 from here.

Of course I prefer to play the juniors with JNUG since it provides mega leverage without critical exposure to any one of the juniors who are always on the hairy edge of BK anyhow.

Hang in there, Jim Sinclair.  According to my models, your ship is just now entering port and you will have the last laugh on King Dollar.