I'm sure Frank will be sending out his weekly subscriber update tomorrow but Frank was very bullish on gold as of his last update, insisting that oversold technical levels would lead to a dramatically sharp snapback. j

It is worth noting however, that Frank's outlook may be bullish but he's still quite conservative in his investment, suggesting that investors only have half of their gold weighting invested, of which the gold weighting would only be 20% of ones portfolio at present. Thus he's suggesting only 10% of ones portfolio be in gold, which would be in a mix that would include physical and producers with a small bag of juniors.

He mentioned that he'd keep juniors because they are so beaten down it wouldn't be worth selling. Consider that he goes fairly light on juniors to begin with so if you used that model, you wouldn't hold too many juniors... and true enough, it wouldn't be worth selling them.

It should also be noted that it's been awhile since Frank put out a newsletter with a detailed portfolio in it. I wonder if he will tomorrow. However, with stopped out positions it's sure to be leaner than we've seen since last summer.

Frank has maintained that while he's confident that gold would go higher, he wasn't sure how gold stocks would react in a crash.

My own thought is that gold is no longer over-sold and a lot of technicals have moved into less favorable levels so I'm curious to see if Frank's next newsletter will be cautious or if his more sophisticated TA is far off my readings.