“What is the definition of a gold mine? A hole in the ground owned by a liar.” -Mark Twain
The gold miners have been notably underperforming the bullion as of late, and now that the metal is unraveling we are seeing gold miners continue to face selling pressure. Similarly, the silver miners like EXK PAAS SLW have seen failed breakouts over the past few days. While these names are not necessarily easy shorts, they at the very least need more time before seeing a true breakout. In other words, the miners are still lying.