Caledonia Mining a case in instance is also one the floor having taken out the 07 low. However on looking at it in detail, the volume on the descent is 50% of that on the last fall, and an investor tried on Friday an all or nothing buy over the advertised ask price, and couldnt get a fill for 40k shares. That suggests the market makers may be trading between themselves in bringing the price down, either with the market, the metal or to pick up low set 'stink bids'.

Moneyflow is probably an issue, but a lot of fund cash is in bonds apparently, probably waiting on some technical signs of market bottoming before stepping in. Also it took about six months 01-03 for interest rate and liquidity adjustments to seep into the US economy.