Despite some suggestion that "seasonality" may not come about this year, it seems to have kicked in anyway. For those here who may not know, seasonality is the propensity for metals and mining shares to see softness in late spring or early summer.

Looking at the other end of this trend (when it happens), it often turns from the middle of July, and builds strength into the late fall market season when players seem to hybernate for a few weeks as they think about preparing for the tax loss selling season.

For individual issues, or course, news can make a difference.

VP