We dodged a bullet with the recent Fed cut of 25 basis points and no signal to reverse position and pause or hold off on future cuts. This means the Fed thinks that there are many more financial problems coming to the US economy over the next few months. Obviously the US markets understood this sentiment and gave back all its early gains for the day. If the Fed had given us no cut and/or signalled that they were through cutting rates then we could have had continued commodity price declines and no investment $s flowing into junior pm's until later this summer.

I think this signals the end of gold and silver price declines and we should see a steady rise through the next several months - maybe even eclipsing our old highs by the summer. This should be good for junior pm's which have been under some pressure by hedge funds and others to hold down their prices. It is probably a good time to back up the proverbial truck and load up with solid juniors like ECU. Normally I would sell in May and go away except this year is not normal I expect big returns in many of the junior pm's over the next several months. All JMHO and GLTA ECU longs.