Here’s the small caps versus the S&P 500, showing how much weaker the Russell has been during this disaster:
The junior miners looked like they were getting ready to fly higher versus silver, but this saucer pattern got blown all to hell.
The small caps versus the bonds are also following their analog quite well, as bonds have continued to be quite strong, and obviously the small caps have been a disaster.
Lastly, there is the broad, sweeping range between the metals and mining fund (XME) versus the precious metals miners (GDX). This would imply that, long term, being long XME and short GDX might be a shrewd move.