NEW YORK ( TheStreet) -- Today I profile eight gold mining stocks that have become tarnished as their stock prices fall. Three are still above their 2012 lows, but five have been setting new multi-year lows almost daily.Weakness in gold mining shares is telling us that Comex Gold could be at least headed for a test of its December 2011 post-bubble low at $1523.9. This scenario is enhanced by the fact that all eight gold miners profiled today are well below their 200-week simple moving averages, while gold is not as shown in the weekly chart.
Comex gold has been above its 200-week SMA since February 2002 and this key moving average is currently at $1417.5, which is the downside given a trend below the December 2011 low at $1523.9. Gold has been trading back and forth around my annual pivot at $1599.9 so far this year.