The banksters gave the green light to suppress resource stocks across the board today, most likely in an attempt to quell excitement in the sector. Keep in mind that such activity usually occurs during the week of the BLS jobs report. Our resident ECU naked shorter is just enhancing the process.

Regards - VHF

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Weakness Visible On Wall Street Amid Losses By Resource Stocks - U.S. Commentary

May 3, 2011

(RTTNews) - Stocks are mostly lower in early afternoon trading on Tuesday, although much of the selling pressure has been limited to the resource sector. Additionally, strong gains by some blue chip stocks are contributing to a modest gain by the Dow.

Weakness among resource stocks is playing a big part in the downward move by the broader markets, with a pullback in commodities prices inspiring traders to cash in on the recent strength in the sector.

Gold stocks continue to turn in some of the market's worst performances in early afternoon trading, with the NYSE Arca Gold Bugs Index down by 2.5 percent. The weakness in the sector comes as gold for June delivery has fallen by $12.30 to $1,544.80 an ounce.