.......The XAU Put/Call Ratio At 0.60544 Today

The XAU Put/Call Ratio, at 0.60544 today (August expiration), reveals a very low level of fear = a high level of complacency one would expect to see near an important cycle high. This jives with my expectation that Wave A down of the Wave 2 Cyclical Bear Market (since 5-11-06 for HUI/XAU and since 1-31-06 for reliable lead indicator NEM) is likely to bottom in the 100-110 range (XAU) in the next few weeks.

For recent action see http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. ....... http://www.JoeFRocks.com/