Part of the Vortex, or Fighting Against It?

To update this post, the precious metals and miners have bounced where they needed to. To be sure, all of these charts have plenty of work ahead of them for the bulls to enjoy another sustained leg higher. Especially in the face of world-wide risk aversion, it is impressive to see the miners continue their bounce. Of course, that raises the issue of whether the metals and miners are now part of the flight to safety trade, unlike 2008 where they got delevered along with the rest of commodities.

This time around, is it different with respect to how the market is viewing the metals and miners? So far so good for the gold bugs. but I would not get too cocky just yet.

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