D,

I completely agree with you. I respect FB's work a lot, but I have seen over and over again technical indicators just get annihilated. This market is not trading on technicals. It is not trading on fundamentals. It is trading on pure emotion and forced mechanics.

I have seen low after low get whacked in the HUI and the juniors. Capitulation has followed capitulation. I truly believe we are witnessing a once in a lifetime event here.

I am not selling. However, I am not investing anymore with anyone's technical calls. I can see just as plain as anyone that the XAU/GOLD ratio has never been this low. But I am waiting for the tape to show me we are done selling. Then, I am going to average my way up. I have done a good job averaging my way down, and have most of my positions at about 33 - 50% of the 52-week highs, but I am concerned that we are truly witnessing a six-sigma event here. As in, perhaps the HUI itself will be back down to its 2001 lows around 45, a 90% drop from its peak of 450. We are not that far away. I am keeping my powder dry in everything until we have some sustained moves again. I will miss the first 100% gain if need be, seeing as there will need to be another 500% gain on most of the juniors just to get back to the 52-week highs.

Hysteria