IMO there might be a some sell-off if the market starts to seriously fall BUT (that is intended to be a big but; who knows how much the gov't will be willing to do to keep it propped up). So you're right the gold market and miners will be very tricky to trade; too tricky for me.

We are finally entering into a period of recognition where even the institutional investors are beginning to see that this crisis will have legs and be far worse than was initially imagined possible. As a result the rally might falter but then continue.

We as "the smart money" got in early; wave 1 in Elliott Wave Theory (EWT) terms and suffered an almost complete retracement of that wave (not in gold but in the miners). If we had been smarter yet we would have traded out and got back in later. It turns out there was plenty of time to do that and with the huge wave 1 correction, enhanced by manipulation, we mostly looked like "dummies." A conspiracy theorist would say that was by design and it may well have been. Since wave 1 was such a large and steep correction EWT (based on alternation; a usual but not cast in stone occurrence) the wave 3 correction should be flatter.

Wave 3 has started. Within wave 3 there will be five waves. So it is possible to see some backing up of the rally for brief periods but I wouldn't want to trade a wave three rally. It can get away real easy.

After this 2nd major upleg is done (wave 3 is complete), the market will take a rest for a while.

Finally wave 5 comes when John Q. Public finally gets it. They won't be able to afford gold so they will buy the miners. That will be the finale and based on the amount of money printing gold could wind up anywhere from $2000 to infinity. Stock in the miners should be profitable no matter where we bought in by the end of wave 3. At the end of wave 5 (assumming the world structure lasts that long) anyone who times their exit properly will have been well rewarded for patience and foresight.

P.