It seems to me like we had some good old fashion capitulation today. May have been related or helped along by option expiration...Stock market tailed down, miners were crushed. It would seemingly take some time to repair all of this....Had to sell off my ladders in the SILJ at a loss, but the lower prices make me feel more bullish for the long term.
The metals' action doesn't seem to make much sense unless you figure in higher rates and a recovering dollar...I am thinking it is time to lay back and wait for the opportunity to present itself. Today may have been it with DUST, for example going out at its high, but I suspect Tuesday will present a better opportunity to take profits on that hedge and lower miners' cost basis.
Happy 3 day weekend to all.