From Gold Scents:
... I want to discuss the mining stocks. It seems everyone has an excuse for why the miners have underperformed lately. Needless to say, I don't really buy any of that nonsense. However, I am as confused as everyone else to come up with a reasonable explanation for why miners continue to sell for these ridiculously cheap valuations.
Whenever I am confused, usually the first thing I do is pull up a very long-term chart so I can get a feel for what is really going on, and eliminate the distraction of the day to day wiggles. I think we are all wondering when the miners are going to join the party as it certainly appears that gold and silver both have formed major yearly cycle bottoms.
What I saw was quite a surprise. The character of the mining sector has changed completely. For the first time in this bull market, miners are...
More on gold stocks: