Not sure about the "not for profit selling" angle. If that had been the case the short report just published would have shown a significant increse, which it didn't. This just looks like someone who decided to liquidate a large position.

I agree with the rest of your statement though, ammunition can only last for a while.

Looks to me like both the G & S markets have turned the corner as ESL predicted, (allthough he was 3 days off !!!). The important indexes to watch now are the HUI which is fighting to break the 600 barrier and the US$ which is almost below the dreaded 75 cents mark.

Also have been reading a greater amount of articles lately regarding the hedge funds shorts and how offside they could be very soon.

All in all, the next 2 months could prove to be very interesting indeed.

Later