Hysteria,

I share your thoughts.. I walked the same kind of path. I believed the story after years of study. I missed many run ups and decided I wasn't going to miss this " last blow off". I took most of my positions in pull backs in August of this year and even took positions in the majors(GG, AUY, KGC, SSRI, SLW). I already owned TYHEE.

My timing was terrible. I have relearned the most expensive lesson I had "learned" twice before. Be willing to take a loss and keep those to 5-7%. Let the technicals guide your way through the jungle and adjust your thinking on when and what to buy and sell based on the charts. I got so hung up with the volatility and the fear of missing this huge run-up , that I refused to sell at any level. Now I am sitting on some big losses and will not and cannot sell. The only mistake I did not make was allocating more than about 30% of my portfolio to this. It still doesn't feel good at all.

I still believe in the story and believe now Brian Pretti has it right with a depression followed by monetary inflation. We are seeing monetary inflation offset by asset deflation(equities, commodities real estate, corpration defaults, etc). When this monetary inflation finds it way back into equites, commodities, real estate, etc. , we will be off to the races. It could still take a year or more in my mind. The only exception would be a black swan event that would spike gold quickly. I actually thought yesterday was the start of it, but that was not the case.

I am also a little tired of JP saying that he wants to back up the truck and in the end it only matters how many ounces you have. I have too many ounces right now!. I am tired of Peter Schiff saying that the value of their portfolio doesn't matter, because in the end they will be fine. I can only wonder what kind of phone calls JP, Peter Schiff, and Sprott must be receiving. At least I didn't pay someone else 2% to lose a pile of my money; I did it myself for free.

This is a great board with many intelligent particpants. I hope that we can continue to stimulate thoughts and ideas. I believe we have the right idea, simply it is way before its time.

SilverNut