We just saw an attempt to take down the HUI a few minutes ago with gold very steady. Is this an attempt to prevent gold stocks from really taking off this afternoon after the FMOC announcement or before the jobs numbers on Friday morning. The stocks have been a disappointment compared to gold although they are catching up a little now. Of course there have been some mediocre earnings from the majors with lots of one time charges which should lead to outstanding earnings in Q4. Still the HUI should be challenging 480-500 instead of 435 based on the strength of gold.

I note that silver is playing more catch-up today so maybe the gold stocks are really getting ready for a major move.