4%

It's pretty rare that losses have to be booked which is great, and the only thing that your mind has to be able to handle is missing out on a few %'s by booking. The AX school of thought has people thinking booking is bad and that once gold gets moving it'll be too late to get in?????? I used to argue to no end with him. Yamana has gone up like $2 in almost 2 years yet i've probably booked at LEAST 100 lots in that period while people get all ramped up while it's rising and he starts drawing arrows to the moon when it's around $20 so nobody books. Then it pulls back, they all start the cycle again of watching it go down and seeeing arrows to the moon every day. I can't imagine the pain of those guys who buy and hold.

I have been really obsessed with the ETF's lately, but you'll see me shorting miners quite often like the EGO shorts when it hit it's high over $9.30. Those are the plays I love.

Basically the first time I tried trading I was constantly buying at the tops then getting disgusted and selling at the low and moving to something else that looked great but was really topping. Thats the hardest thing to get past. It's difficult to do, but you have to go against the trend.

As for the planting and booking, the only real issue is say if Yamana goes under, then i'm stuck with lots as high as the $18's. When I started planting them in March (?) I was absolutely positive we'd get back there. And by planting every 4-5% down, you're ready for whenever it reverses because NO ONE can call a bottom accurately with a high degree of success.

Big week ahead guys, oil still over $130 this AM (i'd love to see $140 pretty soon)

POG continuing it's rise so our cheap miners from Friday should do well.

And the main markets have a bit more to rally IMO with 11,550 the top of the new range we'll be in.

QMNM, let's get a close back over .02 today!!!!