Watch the overseas markets for a direction on how the metals play in the next few days. I think we will get some strong buying of gold and silver after hours. Asians are not fooled by the 'strength' of the dollar, and the sale price levels today will be very attractive, especially for those that have been holding off buying at the highs last week.

I also think the temptation to cover metals shorts will be very strong, and this nice air pocket that the Cartel has created may disappear quickly once the spec traders have sold out and the shorts start thinking about closing positions.

The Venture was down over 100 points today and I have not checked recently but it probably is still in that range. This has only happened a few times in the last decade, once during the 2008 meltdown. The widely reported overbought nature of the junior sector can be unwound very quickly at this rate. Technical damage may take longer to repair, but downside may be lower than the market seems to be telling us today. And I do not think margin call selling will be much of a factor yet. If the correction drags on longer, then perhaps that will be something to consider.

cheers!

mike