I just spoke with Balmoral Resources (BAR.v) and received an explanation on the trading activity on January 28 in which the stock declined from $1.10 to $0.94. There were several factors at play here. An insider sold for personal reasons and his shares went to an institution (strong hands). Secondly, a lock-up period for insiders (which includes friends of the company, promoters, people with options, etc) ended. There may have been a bit of selling from that group of people. Also, some shares from a recent financing became free trading today. There may have been some selling in anticipation of that. Furthermore, it didn't help that January 28 was the fourth straight day of declines in gold stocks.
The insider sold for personal reasons and noted that there are stringent policies in place for insiders trading their own company shares and especially when that company is an exploration company in the midst of a major drill program. In other words, BAR is spending $10M on drilling this year and insiders cannot trade the stock during the drill program for obvious reasons. When it comes to insider buying and selling, the buying is what you need to focus on. Insiders sell for many reasons but they buy for only one. The shares have good support at $0.90 and initial resistance from $1.02 to $1.10.
Over the past 8 trading days, GDX has been locked in a tight range. This could be bearish consolidation which has a potential breakdown target of $39, which happens to be double bottom support. This breakdown and bottom may require one to two weeks of trading to occur, so patience is required.