sounds like the right call to me but you better be careful making bullish calls on this board because you will be mocked and made fun of for it. only bearish calls like "5 handle" are allowed to go unpunished.
I think he's right. You can make fun of me if I'm wrong. All the major gold stock indexes like the GDX XAU and HUI are right at the 61% Fib retracement of the 2008-2011 move in miners. This is the ideal place for a massive reversal. Gold stocks are now cheaper than ever vs. bullion.
GDX printing $35 handle yesterday. GDX was $35 at various times every year from 2006 to 2009 (it never saw below $40 from 2010 until just recently. Gold was $650-900 and GDX was $35ish for 4 years during this period. Now gold is $1580 and going higher in every single fiat currency over time. You really have to be dumb enough to believe gold prices are going back to yesteryear prices to be bearish miners now. If you believe that I have some $1-2 gasoline I will sell you.