J, don't know whether you pay attention to Rydex PM data, but here they are: <A HREF="http://www.idorfman.com/Charts/RydexPMCashFlow.jpg" target="_blank">http://www.idorfman.com/Charts/RydexPMCashFlow.jpg</A> Pretty amazing: despite POG at multi year high, Rydex traders are pulling money out from precious metals fund. IMO, as bullish as it gets. The only negative spin I can invent is that the guys are pulling money out of RYDEX to invest in safe juniors like GRZ, ANO, CALVF, CRCUF etc (g). Hulbert is also bullish on gold based on sentiment <A HREF="http://www.marketwatch.com/news/story.asp?guid=%7B5EB859BD%2D7890%2D4496%2D9D1D%2D33867D10BB7E%7D&am..." target="_blank">http://www.marketwatch.com/news/story.asp?guid=%7B5EB859BD%2D7890%2D4496%2D9D1D%2D33867D10BB7E%7D&am...</A>.