This is part of the ongoing cycle in bull markets. Former bulls get partially thrown off and then must climb back on at higher levels, adding more fuel to the fire. I have stopped listening to the majority of Financial Sense's short or intermediate-term calls, because they are generally mistimed or even flat-out wrong, but I do believe their Austrian background gives them a voice of reason in the otherwise Keynsian world. They certainly taught me a lot, but that was years ago when the show was less focused on short-term timing than it is now.

I would refer you back to Puplava's sentiment back in late August, when he was clearly bearish on gold mining stocks, and specifically mentioned Yamana for evidence as it was "breaking down" below $10/share. That show marked almost the exact low in the HUI over the summer before gold, silver, and the miners all took off to new all-time highs.

Hysteria