The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver, gold, is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October gold stocks' weakest month seasonally by far, particularly risky.
The gold stocks have enjoyed a big run since late May. Their leading benchmark and trading vehicle is the VanEck Vectors Gold Miners ETF (GDX). Birthed way back in May 2006, its first-mover