Laird, why NEM? Why not juniors? They've been beaten up badly, and some seem to be pretty cheap. I noticed that Slider on SI and Russ are very optimistic about their prospects.
During the last two days juniors underperformed HUI, so IMO more downside is ahead. Still I think it is a reasonable time to accumulate juniors.
BTW, remember a prediction for 7-10% rally in SOX? Seemed rather optimistic a few weeks ago. The SOX is up about 12%. And the suckers are only joining the party.