Note that one of the funds selling was the World Precious Metals fund. What a classy organization. It seems they have sold everything they own recently except for one remaining holding. No doubt they got crushed in the process, as well as taking the bottom out from under all of the dozens of juniors and millions of shares that they controlled:

http://www.mffais.com/funds/78365/

This stunning incompetence was paid for by management expense fees that further impaired the performance of that fund. With such inept professional management, is it any wonder that the entire sector is under such presure right now?

This sort of thing is just one more part of the bottoming process for the sector. Blowing out the highly leveraged speculators in a nasty capitulation is going to help clear the way for the next upside move. But I still believe that we will not see that until the last of the crooks that have imposed wanton manipulation on the metals is dragged out of their offices and thrown in jail. I do not expect to see that happen anytime soon. Or when the last of the cheap bullion has been taken off the market, we may see some big players take on the fraud and end it. Otherwise, it will just a be a flat sector trading on low volume for a few more years, IMO.

cheers!

mike