PM Miner's have not moved in conjunction with their underlying metals for quite some time.
The shares are a completely different animal than the actual metal that's on the market.
i.e PM Companies are subject to production problems, international difficulties, disasters, fuel costs etc.
Miners rose "before" the metals did on the last blast up, and fell sharply "before" the underlying metals followed last year. Currently the PM miners "in general" have been out performing the base metals since the beginning of the year..
I don't follow the day to day differences in price action between metals and miners because they just don't match up that well. People will continue to be perplexed by the disconnect between metals and mines. Explanations never seem satisfactory so the best thing is to just accept that's just how it goes. Or, if you own a particular share that drives you crazy, get out or move to a basket of PM shares like SIL. They still won't move in lockstep with the underlying metal but you are more diversified. IMO Miner's offer the best risk reward now. They are still hated even though they are outperforming the S&P since the beginning of the year as per SIL, GDX, GDXJ (HUI)
Some think the Miners will lead the PM's up in the next bull cycle. I don't know if that's happening now but something seems to be in the wind.
Thanks for posting news and running through the EW projections. I enjoy CB and your informative posts.
Am trying to get a better handle on EW. (I get the 123 corrections but haven't yet learned to count to 5)
Following your numbers is very helpful~
Are you thinking an intermediate low or perhaps "the low" we hope for.
I know a very difficult limb to venture out upon
Also --do you take volume studies into consideration?
Markets may be a bit thin at this time; how much "longer term faith" can we put into price action into the new year?
What do you think about URZ? Good things "appear" to be happening with this company as well. Looks like State bond issue is in the bag so they pay down debt, forward selling inventory that is about to come online.