Four Exploration Juniors with High Leverage to Silver – David Erfle

The second leg of the precious metal miner bull appears to be just about ready to begin. The July trading action in the sector was typical for this time of year while the 12-month consolidation of the initial 179% impulse move in the GDX has traded sideways on historically low volume. Realized volatility in the global miner ETF has been in a downtrend since November, as market participants (who are not on vacation) have mostly ignored the miners while continuing to focus on the high-flying US equity market.