RE: When the dam breaks I track about 50 mining stocks (gold, silver, base) and only THREE closed in the green today. Timmins rebounded after breaking 2.20 (go figure), Bear Creak Mining finished +6% but fishy since it got high closed with a wide bid-ask spread of 2.25/2.40, and Midway Gold finished one penny up (but it was already close to its 52-week low).
It is very strange to see 95% (based on small sample size) of mining stocks drop across the board and many had significant declines in the -5% to -12% range too. Gold and silver did not move too much today but both also finished the day on a down note. As I alluded to previously, the mining stocks action appears to be hinting of near term future action to come in the metals. We shall see if this thesis turns out to be correct or not.