I agree with your analysis Silvernut. I've noticed oil as a leader as well, so I've been loading up on these trusts which are very undervalued and pay great dividends. This gives you more income to purchase juniors while their stock prices are beaten and lying on the floor, though they may be fundamentally sound companies.

The only flaw is that when the time comes for reflation to hit all asset classes, I expect gold and particularly silver to launch like never before.