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When stocks tanked on Monday, the gold mining companies fell with the broad market early.
Then, something unusual happened: Around midday, when the sell-off accelerated, the gold stocks suddenly held their ground and, even better, quickly reversed into one heckuva spirited rally.
The rally came from a critical support area near the 170 level on the NYSE Arca Gold BUGS Index (NYSE: HUI) of gold stocks.
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Financial Analyst, 50-year charting expert, finance + real estate pro, and market analyst; published and edited the Wall Street Examiner since 2000.