The miners outperformed the metals today for the end of the third quarter. I am getting much more interested in the miners at these prices, and my interest will become stronger if the metals can manage to sustain a rally out of this bear market trend.
If the metals rally, I would expect the mining sector to outperform given its beaten down condition and its higher beta to the metal prices. But that is a big 'if.'
Non-Farm payrolls on Friday.
The active month has flipped over to gold for October and it was reflected in the delivery report from yesterday.
The slow bleed of metal out of the warehouses continues.
Have a pleasant evening.
