McEwen Mining Inc (MUX)

[gharma]

I am much more inclined to place the credit/blame on the interventionist dogs on the leashes of the governments (who are on the leashes of some of the interventionist dogs) than on hedge funds. No doubt hedge funds are reading the tea leaves and looking to position for a lower buying point, contributing to the sell-off as the intervention policies trip sell triggers.

I would not be at all surprised if this is a foray in early market before the Aussie and then Hong Kong markets had had enough coffee to actually trade into the opportunity (both of which held the decline and then shortly later boosted the price of silver, and less so also gold), a foray testing the strength of "their" ability to push PMs down in preparation for the more normal take-down pattern that will occur next Sunday in foreign trading into the US holiday.

The important point is of course not the artificial depression of prices, or for that matter the "true" values, but it is when the spring tension becomes too great for "them" to do more than retain the level of depression but not deepne it. By today's action that point is apparently still in the future.
JMO