Ray, We should be getting some gold sample analysis numbers soon from TRGD.

I've been wary of how the mining equities have been acting, not keeping up with the metals. This is from a pal of mine that writes The Financial Commentator newsletter:
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The gold indexes have retraced about 78.6% of their March 2008 to October 2008 decline (XAU 178.08, HUI 440.62), which looks like a B wave rally. Meanwhile gold has looks like an irregular B wave rally, since it rallied to new highs. If this pattern analysis is correct, both the gold stocks and gold are on the threshold of a large correction, possibly back to the 2008 October lows over the next year. Hard to believe. But with so much bullishness around in gold and the significant technical divergences, this is exactly the kind of environment that most tops are made, regardless of the market.

I would be surprised if gold doesn’t push above $1,100, at least temporarily. However, gold should not close above $1,115, so that will act as the stop for the following strategy, which is going to break the exposure into thirds.

DZZ - Buy 33% now ($15.20), 33% below $14.95, and 33% if it trades down to $14.65 - $14.35.
GLD – Short 33% now ($106.82), 33% above $107.50, and 33% if it trades up to $108.50 to $110.50.
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He has a pretty close stop in there. If he's right about the direction, the ZSL would likely outperform the DZZ and GLD.

C L