What you both are missing is how easily it moved back to these...

What you both are missing is how easily it moved back to these levels and finished quite well. Your spec portion of your portfolio/account can't outperform long term unless you look for stocks with potential for large gains rather than 10 to 20 % moves. Gold will naturally move back above us$1350 at some point over the next couple of months you think despite the whipsawing of late. Once it turns back above $1300 it will see significant momentum from institutional traders and a likely over reach where Bloomberg "commentators" start talking about it retest highs. So at this point you would expect to see SLR and peers a conservative +100% of today's close. Just my view based on my experience.