February 3, 2016
The Hot Shots updates show the underlying strength, or lack of it, in the individual components of GDXJ, which thus shows the overall condition of GDXJ itself.
GDXJ stocks that are in hot shots mode, are stocks that are either in a momentum-based uptrend, or displaying internal strength that suggest they are about to enter a momentum-based uptrend.
GDXJ component stocks that I take off the Hot Shots mode list, are stocks where the uptrend has either stalled or are displaying internal weakness that suggests their uptrend is about to stall.
I run a double-smoothed filter on all the GDXJ stocks each evening, and the current hot shot list is emailed every night.