We are managing the now confirmed bottom in the HUI, we are managing its upside targets (hint, we're just about at the first one) and we are managing the probabilities with respect to the breakouts in gold and silver... all in the newsletter week to week and more dynamically, in email updates such as the one that went out this morning.
For our general purposes here however, let's just note that the entire endorphin release in the broad markets has come against a situation where the noise level about QE has gone way over the top with the euro leaders squabbling and jawboning and US Fed members alternately playing good cop and bad cop to a market that doesn't really know what to think, other than 'let's party!'.
I would imagine that there are a lot of people feeling like "shit, I missed the bottom... I better get in!" and indeed, the AAII individual investors are at a 4 month high in bullish sentiment: See 5th item down, here http://www.biiwii.com/analysis.htm.
T bonds are UP, while Uncle Buck is down in the face of the euro, which is UP and probably getting short-covered. The precious metals are doing something really constructive here, but what I will say is keep the whole in mind, not just one or two particular areas of interest. It's a circus, a carnival and a casino all rolled into one and perceptions are now being built and cemented in a mirror opposite to those that got burnished into the investor mindset in the spring and early summer.
FWIW.
http://www.biiwii.blogspot.com
http://www.biiwii.com/analysis.htm
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