The reality is that this is a macro trade. Long S&P and short gold specifically. Other PMs, including silver, and the miners are being taken out as a consequence. It will end with capitulation, as its always does. A big selloff where the remaining longs throw in the towel. These events are typically the bottom, at which point the short trade is reversed and the markets are taken another direction. Personally, I think we're close. Tonight's action in Asia may be the defining move. I'm gathering a short list of miners to purchase soon, and the list includes SVM.