These are bull traps, set-ups.  They have no life to them and just serve to give false hope to those holding long positions, so they desperately ride their positions even deeper into the red and eventually capitulate at much lower levels.   The cliff-dive taken by GDX last week, on huge volume is a giant tell that the entire sector has a long way down yet to fall, which is going to baffle everybody who thinks fundamentals somehow matter.

 

This is going to be worse than 2008.