As Jim Sinclair and a few others have said there will be a point in this gold market when the shorts will be our friends. That turn is very likely to occur this year and I believe that is already happening. Lets face it wether it's seniors or juniors the shorts had the winning trade last year, but thats about to change. Gold will go to new highs this year and there is only one way to play this and it's by going long. The downside in shares is negligible with the upside huge. I see signs of covering already. Semafo [250k oz/au/yr] was $1.00 at it's low in early '09 and ran to $14.40 in Dec. 2010. At this point the shorts came in and ran it up to 25 mil shorts and dropped the price to $6. Over this Xmas manufactored take down in the metals, they covered 24.5 mil of the 25 mil. short position.

Hmmmm, what to they see coming this year?