Monty,

Gordon Pape had an interesting article on Globeinvestor Gold called Decision Time, where he said that he expects a downward trend for several months , with some up days in between. He considers those up days as selling opportunities. He suggests building cash until capitulation is more apparant and then buy.

I like his logic a lot. We had a big up day yesterday but as I write this Dow futures are down 114 pts !! This after a 400pt rise yesterday. This tells me there are more than a few people looking at a selling opportunity after the big rise. I fully expect to see more disasterous days ahead with major buying opportunities to follow.

The bad news in Europe and the U,S. has not gone away in a day. Personally I went heavy into cash about 3 weeks ago befoe the crash ( for once in my life ) but am waiting to buy. I am tempted everyday to buy , but have taped my typing fingers together.

I haven't sold any PDG and don't plan to. Rico