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7/11/13

A couple of random thoughts at 1280 gold

That number in the title line is not enough to support this morning's PM equities pop. In fact, bits and pieces of red already showing on your author's radar in a small handful of issues that have been hit recently by sellers, or put another way this move is already being seen as a window to lighten, at least by some. Another leg up is unlikely without gold moving to and beyond $1,300, though there are a few specific stocks with their own reasons to move higher from here.

Re ABX, I've taken several mails in the last 24 hours with agreement and disgreement voiced. I thank you all for the time taken in writing in and may have more to say later, though I want to make clear that I still hold no position in the stock.  But overall (ABX and all other stocks) I'm with Iwnattos and these words of his this morning, "You goldbugs can go ahead and take your chances at making the first 20% in the next 500% junior miner bull market. I'll come back when the coast is clear.". That's because I'm a whuss, too. Anyway, toodle pip and all that, I'm taking the day and stepping out the office so no more posts until tonight at least.