Market remains largely in a holding pattern. Most notable though, the mining sector which is seeing some severe weakness. Dollar is a touch lower, but Oil is now under the important $90 threshold. Copper again briefly broke the 3.50 level. Mr Deflation is..lurking.
Hecla (HL), daily
Main market is largely mute...so, I thought the miners deserved to be highlighted.
How low might HL go, not least if Silver <20 ? HL @ $1 ? FCX, $15 ?
If the deflationists are right, then despite the fed printing 1trn a year, its not enough to offset the underlying vapourisation of digital $.
So far today, the break in Oil <$90 is the second warning - after Copper, that Mr Deflation is still out there.
more on the miners later.