John,

Just lightening up a bit. There were a lot of topping candles in the PM sector yesterday. I believe these are just indicators of a short-term top, and I'm an (over?)active trader. I've kept my core positions, but raised a little cash in order to buy on pullbacks.

The overall market is clearly oversold, so I believe it will rally for a week or 2. Some of the money currently in the PM (fear) sector may be redeployed by institutional investors during this time. I think the PM sector will be flat or pull back for a week or 2, then go higher. I agree with you about the fall - I'm just trying to fine tune my trading.