IMO this is an indication that the overall stock market is topped and poised to sell off the risk on trade is being removed because of the fed jawboning on Tuesday where they did not talks about QE3. This QE3 is actually used by the crooked wall st banks to prop the markets so they are starting to liquidate stocks slowly and they always hit the miners first. Now my opinion is that the fed was just trying to talk commodity prices down so they can say there is negative inflaiton next month coinciding with weak economic data enabling them to once again put QE3 on the table in as little as 30 60 days. So there you have it an averaging down of nugt could end up bouncing BIG and i mean BIG in 60 days of course it may go lower from here first... THERE IS NO WAY QE 3 is not happening this is just what they have to do to enable them to do it and they kill 2 birds with 1 stone that ias clobber gold and bring down prices all so they can give trillions to wall st banksters to enable them to live the lavish lifestyles to which they are accustomed lol.
Only took 1 day and already the drumbeat of QE3 is back.. I told you if there is one thing you can be guaranteed of it's that the fed is going to continue to prop this market.. it's not what they say it;s what they do I normally hate the miners as they are manipulated so much and prefer CEF that holds the physical metal but these stocks have been clobbered so much and QE3 is now back so therefore I am going long here at this price level does anyone doubt this will bounce back to 20 ?