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Message: Wild day today

US markets a bit weird today - odd combination of general market gains with increasing VIX.

Powerful moves in the PM stocks - almost looks like panic buying. Venture looks good, too. I'm still accumulating juniors - I think they'll have a nice run this year.

Overall, the market looks remarkably similar to last year. The major difference is that the typical mid-year correction started and [probably] ended sooner.

The only potential problem right now is the issue of the US debt ceiling. If the politicians screw this up, we'll have a mini-crash, followed by a panic deal and a market recovery. It's a low probability, but it is not priced into the market, so I'm holding back a little cash - just in case.

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