I've always been mystified how Peter, who's been trading a long time, could be bearish on the US market and bullish on the juniors at the same time. Perhaps I'm missing something, but it seems to me you want to avoid high beta stocks during general market declines. [I was able to lose money in 08 without owning juniors, lol.] I'm fairly new to investing in juniors - for the most part, I basically started in 09. I got into them precisely because of the beta. I learned a long time ago that on the first leg up after a severe market decline, the worst stocks do best. For me, 09 & 10 were absolute monster years.

One thing I learned this year is how fast liquidity can dry up in these stocks. Until a few months ago, it was possible to find a bid. Once the Santa trade uptrend broke in early March, I knew it was time to go, but I still got stuck with a lot of no-bidders. I hadn't factored that in - live and learn.

Conditions are setting up for another run in these. If and when that happens, I plan to play it again & sell into strength.