MOM- Just to expand on what EZ is saying and to add a few of my notes:

I sold most all of my portfolio in metals a couple of times in the past week because I felt there was / is a top in the market and the miners I was holding were reaching record high resistance on the charts. Then when I saw the trend continue higher I rotated into some other sectors but still bought back some miners that have not recovered as much to date. As far as the miners go this run may soon end but there is some spec money driving into the weaker plays now, I wonder if that is what has happened at grz and kry as of late?

Anyways I'm a novice.

One chart that was interesting to me and I cannot bring it up, but you all can check it:

If you compare the 10 day DXY dollar chart against XAU and silver indexed miners you will see that after the dollar gapped down eight trading days ago gold and silver miners then split apart. Against the dollar gold miners are up 8% and silver miners 14% in the last eight days. So I would assume gold is undervalued to silver at this point, this is one of my reasons gold continues higher.

Also I mentioned this before (and I have bought into the GW scenario long ago). As the dollar reaches it's bottom support just a few tenths of a percent lower than it is now, IMHO it will plummet towards 72 and precious metals will soar. What I think I see is metals buying interest even when the dollar turns slightly up. Before when the dollar turned up .5% there would be a big selloff, not anymore. I think investors betting the dollar will continue lower are using these slight drops in the POG to buy.

Good luck on your shorting, but the scenario of gold first going to 1200-1250 and then pulling back is now becomming a good possibility.

The stock market is just one of the new current bubbles, IMHO be carefull!

It's scary out there..........Good luck everyone, Hondo.