I think the PMs will be crushed this afternoon after the London PM fix. COMEX op-ex week is always a good excuse to manipulate the metals and while perhaps the overnight strength surprised a few, the shorts have dug in and started walking the spot market lower. The dollar is still in the tank btw.
Patience is required while the crooks play their games. The interventions have been less and less effective and I think this is a short term move, with strength returning to the metals shortly. Speaking of short, I actually went short one of my favourite gold stocks today. I am willing to stand in front of a freight train for a day trade because I feel the cartel will rig the metals lower for a day or two.
Early November and the sector should be on the run again. ECU may even start to participate in the upside with the rest of the pack if they can win some confidence that they are almost out of the woods in terms of gaining financial stability.
cheers!
mike