Those of you who have just added to your positions..... I wish you nothing but the best of success. I do beleive that if you are a long term investor you will do fine. I am very tempted to do this, but have made my biggest investment mistakes in the past by catching a falling knife and trying to pick a bottom. I am sitting on my hands everyday!

Technically, I need silver to show some relative strength to gold and the price of GOLD hold above $900. The pace at which gold sliced through $900 and $850 this time was certainly a bearish move to me. I have to admit I was caught off guard and surprised. None of the oscillators are showing that gold is oversold at these levels, so downside risk remains. I am watching the 65 week SMA next which needs to hold at $840. If that level doesn't hold, I am afraid we may see the $700's once again. I will hold my current shares regardless of gold prices and have been forced into being a long term investor.

I always want to have the option of being a long term investor or trading for a profit(or < 5% loss), but in my current positions I am resigned to being a long term investor. That is not the position I would choose to be in, but that is where I am.

Good luck to all on positions. The courage you guys are showing is admirable. I agree the energy shares like SU look very tempting at this point and will be great long term entry points.

SilverNut