Listening to Dan Norcini today, he reiterated that it is the big hedge funds that are causing the problems with pm and jpm stock prices. The metals have been booming for months but the stocks have been languishing behind the bullion. The hedge funds have been making lots of money by going long the metals and shorting the stocks. They have been doing this for so long that they don't want to change. The only thing that will stop them shorting is for the HUI to significantly break through the 520 barrier. It is currently at 514. This breakthrough will cause the hedge funds to change their strategy and the pm's should accelerate quickly.

So apparently it isn't enough for silver to rise to get ECU moving if you can still make more $s by shorting it.