Fundamentally, the market looks strong and there are no signs of a sharp sell-off in the offing. We can't see a top to the market.

Sugar prices in the past few months have pulled back because of the weaker oil price. Now that oil is at around $70 a barrel, sugar has to follow.

Industrial demand for silver has been lagging significantly since it went over $11.

Mexican stocks were hammered on the back of the sharp sell-off in U.S. markets. There was no two ways about it.

We believe fundamentally that the market should consolidate. The strong should get stronger and the weak should go to the wall, and the market should determine that.

We weren't sharp, ... There's no way around that.