The junior mining stocks’ extreme underperformance is the “new normal” that barely anyone talks about. Ignorance is pleasant, but it comes at a cost. To be clear: it’s something very important right now. Juniors, as well as senior mining stocks, are very weak compared to gold, which means that they are not reacting to gold’s gains but multiplying gold’s declines instead. This doesn’t just mean that the profits on our short positions in juniors are increasing almost constantly – it also means that the entire precious metals sector is about to fall much further. This kind of underperformance preceded the 2013 slide, ... (full story)