I’ve heard of this, but it’s been a long time since I’ve seen it. The metals fell $14 Wednesday, and are now down another $12 overnight overseas. It’s ugly, Big Time! But, as I have been saying all along, the miners have strangely held up well. My guess would that that is about to end today. And, if it doesn’t, it’ll constitute the most bullish indication yet. So, I’m looking for a complete dumping of shares today, which, if the volume is huge, would probably serve to put an actual bottom in place.
The next phase, after that, might be a long sandpaper phase where it just moves sideways; a bit up, and then a bit down… but, that’s getting way ahead of ourselves. Let’s see what Thursday brings, as it’s not likely to be good. It’s 6:13 am EST.