A buddy of mine said “They’re a gold miner! How can you short a gold miner in a down market! Gold’s going to skyrocket on fear.” I can certainly understand his point of view a few months ago however in my mind, things have changed. We’re no longer in fear of skyrocketing inflation; at least not yet. That inflation trade of *going into gold* is off the table; for now. Secondly, a flight into gold as a fear trade does not necessarily translate into the companies that dig it up. The raw material could appreciate, but in an extended market with companies having rallied up to 60% and during a market correction, miners can feel the pinch as much as any other while investors flee to less risky assets such as Bonds. Lastly, I’m a chartist. I look at this chart with accumulation obviously dropping and sure, I’m looking for some downside here; not a *buy the dip* stock at this point in time [imho].