Intra-day reversal

[Au-myn]

Did any of you notice the intra-day dip and reversal in many of the PM stocks?

Some made bottom entries on P & F charts and reversed on the close although you will not see the reversal entry on stockcharts because it is computer generated. Other PM stocks that had already made prior bottoms the week or two before also were included in my research today.

[Pyramid]

Au-Myn:
Could this be related to the Federal Reserve minutes that were released at 2:15 EST? The Fed stood pat and there was a subsequent sell-off of everything which was sharp and brief, but then generally rebounded as you mentioned for a small daily loss. QE4 will have to wait untill next month...perhaps.

[Au-myn]

Yes Pyramid, probably part of the reason. The other part is that many of those PM stocks that appear to be in bottoming formations are already in process. I will certainly be monitoring these charts for several trading sessions to see when the patterns are complete.

[andial]

Yes saw it. In fact the GDXJ even went positive for a bit.

http://finance.yahoo.com/q?s=GDXJ