MP, I bought NSU a couple of weeks ago and will add another junior @ HUI below 310. Wasn't able to follow the market recently and don't have an idea about short-term moves. Longer-term, I am bullish on gold miners, and especially on speculative juniors.
Hulbert's numbers look good for gold.
MARK HULBERT Gold looks better than stocks Commentary: Contrarians betting gold again will outperform equities
PS Looks like you figured out the difference between XAU and HUI yourself. I don't see why those who are bullish on gold should pay attention to XAU or trade any of the hedged miners. By definition, upside of hedged producers is limited.