500000 oz milestone, page-144

One thing I have learned from many years of experience.
When it gets very "easy" for the majority to short when they usually do not short and when the majority are convinced the only direction that makes sense is down; then it's not a good time to start shorting. I believe we are close to a solid short covering rally by the inexperienced shorts that will panic on any bounce the way the longs have been panic selling over the last few weeks and especially the last few days.