Time to start taking small positions. Everyone else was bearish during the last pull back to 1632. I did not quite catch the bottom or top but rode gold up from 1640 to almost 1700 and sold at 1688. My point is nobody knows what going to happen and if you want no risk, then put your money in a CD and earn .25 percent. If you don't get gready and by partial positions on the way down this is a "less risky" trade. Finally, the charts don't tell all. Those that listened to just the technicals would have gone short at 1640 and had their heads handed to them(i'm sure many did.) I have about a 20 percent position now. If it goes up great, if not, then I will take advantage of the pull-back and buy more. This is not like a stock going to zero. sooner or later there will be some bargin hunting and shorts that have to cover.