Obviously, the PM sector is far more dependent than the rest of the market on Fed easing, QE, etc. The collapse is impressive, especially since Bernanke only said there was a possibility of tapering later this year if the economic data warrants. Can you imagine what happens if they actually end QE and raise interest rates????

I think the US market can hold up much better than the PM sector - there's a distinct possibility that a secular gold bear did start in Sept 2011. Either that, or one hell of a correction! Regardless, there are strong rallies even in a bear market, so I'm looking to play them. The period of seasonal strength starts in about a month. Short term, I'm expecting a bounce tomorrow or Monday - I play that with NUGT but it will be just a 1-3 day trade. Then I wait.....