I *think* people are starting to get it. I *think* they are realizing that gold equities represent a future that is going to be much more valuable than it is today. Look at the last 60 minutes exactly of this chart:

http://finance.yahoo.com/q/bc?t=1d&a...

I have no proxy for juniors so this is the GDX, but regardless, the money will flow to the juniors. I don't want to extrapolate too much from one day, but this is a fairly important change to see in real time, especially amidst a 7% drop in the DOW.

I see:

3:00 - DOW begins to breakdown from support, GDX going down even more than the DOW

3:15 - DOW tanking, gold starts moving up, GDX stops falling with the DOW

3:30 to 4:00 - Gold up $30 in 30 minutes, GDX gains 3.5% from its lows as the DOW falls another 3.5%

I know I'm reading a lot into one hour. But I really think this, along with the bonds dropping, is a major turning point in the psychology of this entire scenario.

Thoughts?

Hysteria