IAC, if you get a chance, can you elaborate on your reasoning? My gut says that we will get a typical late April-early May low in the gold sector, maybe accompanied by a brief dip below $1000 gold to flush out all the weak hands, but I see compelling evidence for the bounce continuing here. I posted the Rydex data ending last Friday. Since then, Rydex PM investors have actually been net sellers the first two days of this week. I take it as pretty bullish when a nice rally has a lot of skeptics. The gold sector has a way of rallying with as few investors on board as possible (I know it's rallied without me being fully exposed plenty of times). The precipitous drop below support late last week coupled with the surge early this week has left a lot of gold bulls underexposed, IMHO. They could provide fuel for a continued rally.
