"The HUI is demonstrating a real divergenece today with about half the companies in the index higher and a little more than half lower. This suggests buying with investors picking their favourites versus all being down from the sellers/shorters."

I must say, this is divergence is certainly new to me. It looks almost like a total confusion between short hedge funds and long funds as to what will be the direction of the market from here on. To me it is astonishing to see SLW almost flat and CDE and HL negative, while silver is up 2%.

Must be great to be sitting on cash right now.

By the way, I would prefer to see silver leading gold. Maybe this is one of the reasons why certain hedge funds are selling the miners.