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Old 06-01-2012, 03:14 PM   #1
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Lightbulb Huge volumes in big miners today, on short covering

Mining shorts have covered massively today. There was probably also some long buying going on.
Volumes for the giants in the business have been huge:

ABX (Barrick) + 7.32%
Volume: 16,408,255
Avg Vol (3m): 8,437,690

NEM (Newmont) + 6.72%
Volume: 11,846,857
Avg Vol (3m): 7,526,390

GG (Goldcorp) +8.78%
Volume: 11,449,738
Avg Vol (3m): 6,137,500

SLW (Sliver Wheaton) + 4.59%
Volume: 7,188,159
Avg Vol (3m): 5,672,180
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Old 06-01-2012, 03:22 PM   #2
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I saw that too. Also, lots of movement in PM ETF's today. With gold up over sixty two bucks today, things are looking a bit less gloomy. I was starting to really fret over the perpetual silver slamming and gold dumping by the pricks at the Big Four.
All things being equal, the simplest answer is quite often the correct answer - Occam
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