I just noticed the same thing and posted on my forum. Quite a few of my PM juniors broke out of the gate strong today and then reversed about an hour in on the day. A correction is called for since many have had very strong moves and are well into overbought territory, but for so many to just reverse at the same time, when both gold and silver are still trading at their highs, suggests to me that a short program just kicked in and the metals will be hammered shortly.

The good news is that once the raid blows over the shorts are usually very quick to cover these days, and I would be very surprised if the metals roll over for an extended correction.

I sold my ECU traders and closed a few other trades today, raising cash and will look to re-enter on several trades if/when we get a quick smackdown.

cheers!

mike