Penoles mine strike given as the reason unless somebody got the ETF news early.... imagine that...inside informtion
nice to see the move was without huge spikes in YI + ZI yes it was a huge daily move but smooth and they both moved together ... glad to see the Market Makers were able to do their job
something else is going on.... USD is real weak and GM isn't looking too good..maybe a junk bond market fiasco is what is at work....
Fiascos pump gold not silver; since PRC removed peg, silver lagged gold. Also, silver took out both a major big figure and new multi-decade highs, while gold did not. Taking out $10 means funds buying think silver's going sharply higher right now: the cause must be silver-specific. The biggest event right now that's silver-specific is Barclay's ETF launch.
Penoles strike was just called off...so the operative is that somebody leaked some info someplace.....Canadian mining equities are going nuts....
the only other deal is Bush maybe touring south Asia to personally tell the honchos of his plans for Iran... plus, bond markets caught bird flu today....
this was also a little like the good old days to the downside .... caught me a little by surprise by the selling pressure ... gave back my overnight profits in 15 minutes
any thoughts as to the timing of the SEC approval for the ETF, it could come at any time now is my understanding. Thanks in advance.