Well I for one don't think that shorting goldies is verboten....

Well I for one don't think that shorting goldies is verboten. Last year I made as much shorting NCM as I did going long. I did quite well with SBM shorts too. I consider myself a gold bug insofar as I'm very keenly watching this sector, and think that we're in for a lovely little ride over the next while as worse and worse news begins to emerge.

That said, it's always worth keeping an eye on contrarian indicators. Gold is volatile, and as informed investors in the sector we'd be foolish not to read for and ride the corrections as well as the trend. At the moment radars should be on high alert for a possible double top at these levels and some more static. Might not, perhaps even probably won't, retrace significantly from here but it does look like POG is leading some stocks at the moment as opposed to the other way around. Understanding that a reactive rather than predictive POG/SP dynamic is presently at play in many gold shares is important, IMO. Of course the POG price is itself predictive. . .

Hot money is indeed starting to find gold. And it's getting a helluva lot of mainstream press play at the moment. What happened to all the people who said they'd exit once that began? I notice a gold story, for example, is front page of news.com.au at the moment.

That said, not short on any goldies at the moment :) Just not opposed to the idea. It's patently clear that when things begin to turn around other sectors will outperform gold again - just how long away that is is the $64 trillion question. Not this year, if you ask me.