Furthermore, PM's [Gold,Silver,gold stocks,silver stocks,etc] since their 2008 lows haven't even retraced the Fibonacci minium of 37% The bad news is that any runaway move is now at least 3-6 months away.

He should check his charts or be more specific. The HUI, the AMEX Goldbug's Index of unhedged producers, went from an October '08 low of 150.27 to a high of 516.16 and retraced to 363.25 in Feb of this year which is below the 38.2 retracement ~ 375. The index has also been trading sideways in the upper band between 0 and 38.2 for the last 12 months and like San Gold, sentiment is about as neutral these days as it has ever been, ergo the Summer doldrums.