Yeah, that's a good question. Today, the junior producers (I use GDXJ as a proxy) are catching up with the seniors (GDX), but the spec stocks are not. I use the Venture exchange as a proxy for the spec PM stocks - I know it's polluted with a few oil stocks (pun intended), but it still works pretty well as a proxy. The spec stocks would normally be the last to pop, so they'll only do well if there is a sustained move in gold & larger gold stocks. I'm not sure that will happen until the fall.

Overall, we're due for a general market bounce - maybe 2-4 weeks - most things should be OK during that time. After that, I think we could be in for a choppy, volatile summer. Right now, I'm targeting September as the time to buy the spec stocks. I still think we're in a cyclical bull market with at least one more strong rally to come (Oct - Jan?).

If Mr. Market forces me to change my mind, I'll definitely post it.