Pity the poor guy who spent his life savings buying billboard space to warn people about the end of the world. If he has any money left, he might consider buying PM stocks.

It was nice of Harold Camping to pick a Saturday for the end of the world. No need to check any charts until today...

PM stocks look like they've put in a short-term bottom. Both GDX & GDXJ acted well Friday on strong volume. They've both broken the accelerated downtrend line on the daily charts and they have stopped underperforming the metal. Gold looks like it's come out of a bullish flag formation and headed up. Silver & silver stocks look similar, but there's been real technical damage to the sector, so gains will likely be more laboured.

During the month, I sold a lot of put options in the PM space which were assigned this weekend. I am now long GDX, GDXJ, ABX, SLV. I plan to hold them all for a bounce - probably 2 or 3 weeks depending on how they do.