I have held that we have been in Phase III since the October transit breakdown and since then we have been in a complex Mega backtest. Just to put an exclaimation point on this, this can be seen throughout the entire market cap range. Looking under the hood at the individual stocks it starts to become pretty prominent. We are now in the process of having the few top tier get pulled under


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MID TIER – where the damage is becoming especially pronounced

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Junior producers and explorers – damage well developed

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This 4 month back test phase has served to get the party faithful lathered up yet once again and establish positions within their beloved sector. After having been abused constantly over the last 4 years they are now set up for the final revulsion. This reload will provide the fuel for a selling frenzy which did not exist last fall. That’s the market mechanics of phase III