I think resource stocks are setting up for a major run - most are in long basing patterns after a massive drop. Monthly MACD (where signals are infrequent and generally reliable) has given buy signals on GDX & GDXJ, and is about to on GLD. Same thing with Venture, where monthy MACD has done well historically (2007 had a sell signal, 2009 a buy, 2011 a sell).

There may be more basing ahead, but everything has its day in the sun. It's just a matter of time before resource stocks have theirs, methinks.

LGO & TV look pretty good right now....