Watching the juniors has been a frustratingly big waste of time. At least for me. While gold and silver continue to creep up in price, the juniors I follow just back and fill. A good percentage of my juniors continue to crank out really stellar news, but the stock prices don't react much, some pick up a few pennies for a day or two before giving them up while others simply head the other way. Sad thing is it's become predictable.

News regarding silver continues to be so widespread bullish that I hardly read the stuff anymore, since they all say pretty much the same thing....shortages, buy now, juniors ready to take off, etc., etc. Yet nothing seems to move most of the juniors. The old days of supply and demand, price to earnings, improving fundamentals, etc. seem to be long gone in favor of algorithms, naked shorting, sand-bagging and manipulation.

So what's the catalyst that will launch the juniors? Or is there one? I'm beginning to wonder, especially since the ETF's continue to siphon off so much of the available cash. If there is one, what will it be? What in the world are we waiting for that hasn't already happened? Is it the end of the ratio spreads I read about. Or maybe when/if the CFTC ends the cartel shorting game. Or when silver hits $25, 30, 50? Or one of the new "wait 'til this happens" we read about almost every day. Or is the current scene permanent until the day it all blows up.

Like Ed Steer, I'm all in, so there's not much I could add to anyway when and if the move starts. I probably wouldn't notice it anyway as most of what I've seen lately seems to me to be not much more than a sand-bagging set up.