For shorter term trades, GLD and GDX are great. For long term investors, though, buying physical bullion is the only good option.

The real problem I see, aside from layoffs in energy and retail, is that most of the new jobs are part time and in the services sector. Once recession becomes apparent, I think the layoffs will increase drastically.

When I look at that rounded top and combine that with how horrible the economic data is--combined with the fact that the bull market is seven years old (2nd longest), I can't imagine who in their right mind would want to put money to work. Until there is a 20% correction, I plan to sit and watch this unfold over the coming months or year.

With all of these people calling for $5,000 gold and $100+ silver, it's hard to imagine the real gold bugs selling at the right time. When gold is $2,000+, many will get greedy and wait for more gains to come. And those on the sidelines may start buying at $2,000. I like PM's but too many have turned into a something like a religious cult.

So far I have fought the fear of missing out when it comes to the miners. I'm hoping for a retracement soon, so I can build a position. It does seem like almost every dip gets bought...since January. The correction, when it comes, is bound to be mighty.

I keep waiting for the rug to get pulled on the mining stocks. I'm open minded about where gold and the miners go from here, but I still don't trust this rally. I feel like my view is somewhere halfway between Peter Schiff on one hand, and Harry Dent on the other. I'll maintain a small position in the miners, yet be ready at a moment's notice to sell if need be.

Just in the last 24 hours, I have noticed more and more analysts, investors, etc. talking about the need for fiscal policy. It looks like the central banks really are out of ammo now. I doubt Congress will do their job, though, and seriously pursue fiscal action any time soon.

I almost shorted one of my favorite stocks (First Majestic Silver, AG) today because it has gone parabolic to the moon. I know silver is looking good right now, but the overshoot plus unfilled gaps leads me to believe that some of the miners are going to get dragged back down soon.

I know what you mean as I have also had to cover shorts. I'm long term bearish, but I am starting to think that all time highs may be seen before there is any kind of meaningful correction (ie 20%). I can't believe I am even thinking this bullish! Gasp

3-4 more years left of the bull market?! I think you should be crowned king of all the permabulls. Life may be good for you and your 20% friends, but for most Americans who are working part time or are unemployed, things look pretty bleak. This is the worst article I have read on this site thus far.