Mostly: Classical

[Frank Pembleton]

My so-called "bounce-theory" was pretty anemic-- my thinking is that back in the days when the BoE was auctioning off their gold holdings, gold stock would sell off like crazy towards the date of the auction. If I remember right, in the last couple of auctions, gold stocks would actually rally on the day the sales were made.

I smell the same kind of investor fear here today, and since it's early in the tightening cycle, methinks the goldbulls will finally catch on that there's nothing to fear.