That's plunger's article, who is\was a perma-bull. Sounds like he's changing his tune.  He posts on Rambus's site who some think is the preeminent  chartist. 

My advice is quite simple,  trade what's in front of you in accordance with YOUR PLAN as that's what matters - not prognostications.   Back in May, we noticed on GDX that the MA ribbons were quite stretched and that price stalled near its .618  Fib - thus a good time to prune along with trailing stops.  Those who avoided bias simply would have taken profits and adhered to stops and simply waited for a better opportunity (like last week).   Again, the key point here is what was YOUR exit strategy?   Why hope (hope is not a valid plan) - just trade the charts based upon an evidence based approach in accordance with your plan.   This is why I'm constantly preaching about a plan - that's what matters to you not some 3rd party opinions.  

With that being said, there are some valid points made but he seems to overlook the crash in March 2020 which took GDX down to new lows and negated the entire move off the 2018 lows while Gold put in a higher low - again what matters is what instruments you are trading and your plan( it will vary on allocations and time frames)  You can incorporate some of the information into you analysis going forward but the key is to develop a viable plan that suits your objectives.   Lastly, get rid of your bias and adjust to the message of the market while allocating a small percentage to this sector.  Over the past many years, I have seen many bugs hit the proverbial windshield as they were flying blindly with hope and bias instead of developing and adhering to an evidence based approach.