GDX & NUGT have effected dramatic 10 month breakouts with a $55 GDX price target

NEW YORK (AUG 20)

The GDX is looking to replicate the 2009 breakout. Moreover, all the Techical Indicators support that forecast.  On-Balnace Volume, RSI and CMF.  Further, it appears GDX might soar over 70% to $55 from todays's price of $30 -- per W. D. Gann's Theory of Symmetry GDX might top $55 within the 5-6 months.

http://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=6&mn=0&dy=0&id=p20849362258&a=300572190&listNum=2

But the big beneficiary would be NUGT, which is the 3X Long ETF for GDX.  Consequently if GDX rises 70%, theoretically NUGT should go ballistic up +210%. As i speak NUGT is up today by a whopping +11% at over $97/share:

http://stockcharts.com/h-sc/ui?s=NUGT&p=D&yr=0&mn=2&dy=0&id=p48649724572

But take careful note NUGT was over $2,000/share in late 2011:

http://stockcharts.com/h-sc/ui?s=NUGT&p=W&yr=2&mn=2&dy=0&id=p13553179920

But the most spectacular aspect of NUGT is the vastly increaded trading volume during the past 4 months. Indeed and in fact recent trading volume is SEVERAL TIMES GREATER than in 2011 and 2012. This obviously is indicative of mammoth Accumulation by Institutional Investors.