reversal, page-38

This is why I cashed out my profits in the market recently and sit with my powder dry looking at opportunities....I'm look for NCM at around $36

"
Smart Money Preparing For Sell Off Like Never Before

mutual funds have the lowest cash level on record, and have experienced 29 consecutive weekly outflows which have so far been compensated for broad NAV declines through artificial price increases: that will very soon end. We have heard through sources that following last week's HF insider trading probe redemption requests at many of the implicated hedge funds* have gone through the roof."
http://www.zerohedge.com/article/smart-money-preparing-sell-never


I tried to look at what happened to gold stocks during the great depression and apparently they did very well indeed.

But when there is a sell off everything gets caught up in it. Gold, silver, gold stocks etc will all get sold off with people needing to access cash or fleeing what they think is risk. But at the end of the day and quite quickly they also then have to think where to put their money to avoid sovereign risk and the real concern of which banks will fail. This will see cash look for other safe havens such as bullion and bullion stocks.

So if a European/US melt down comes in my opinion all our stocks will also sell off stongly. That will be an opportunity to buy back in cheaply, especially those stocks that are producing bullion.

I've got my powder dry and safe, waiting, waiting....may or may not come....however the probability seems great than 50% that I will get what I want.