I went flat on all positions this am with the hope of being able to buy back in the near future. GDX BUSTED the Bollinger band this am and since I had been buying every dip last week it was time to book some profits. I really hope that we will get another pull back to reset the market for another rally. If not I may find myself "chasing the market" which I hate doing.

Physical silver might be another story since there was a HUGE notice for delivery. I doubt this is a silver as a monetary metal move but rather silver as a commodity move. If there is anything to the recent rally in TECH, ie new technologies coming online, then silver's electrical properties will be essential.

As each day passed in July we inch closer to a traditionally strong season for the metals.