I don't believe the jury is out on the Citigroup buying at all. It was definitely GDXJ index related as I have checked out numerous other stock additions and deletions for the GDXJ index and the trades were almost all executed by Citigroup at either 4PM for the sells or 4:10PM for the buys. I'm sure this means Citigroup was acting on behalf of the GDXJ index.

I suspect action earlier this week was a combination of some index buying and short covering.

Lots of funds don't buy the index but do try to mirror it, both long and short.

If I was a short I would be scared right now where ECU is concerned for many many reasons going forward.