The Fed is being rather stingy with liquidity injections as of late. I think that the Fed is pretty desperate to cool commodity
inflation and certainly the prices of commodities like gold, silver and copper have been hit pretty hard the last few weeks.
I think the liquidity drain also has had a big impact on the stock market in general.
The last three days have recorded offloading of inventory from metals warehouses even as the prices of the precious metals are falling so there are big players that don't really care what's happening on the spot market but are buying and taking delivery. If there's no inventory, it can't be delivered which means the price heads north very quickly.
There's a really nasty game being played there with big players
and, to some extent, the equities get rocked based on what's happening elsewhere.
Unfortunately, I think that it's impossible to call what's going to happen. When elephant's fight, it's good not to be around as you might get accidently stomped. I think that short-term trades work. Of course I'm overall bearish on both
companies given the competitive situation and some macro factors.
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