Over the last 6+ months we have been prematurely looking for a bottom in gold stocks. It is human nature to want an investment to immediately validate your purchase by increasing in price. Inversely, there is substantial amount of emotional and financial stress that is associated with the investment continuing to decline and a prolonged depression of being trapped in a losing investment. The interesting part is that the very best buying opportunities occur when an investor feels the most dreadful about their investment. In fact the only time you can make the absolute most money in a stock is when there are no investors left to sell and therefore the downside risk is mitigated. When all the short sellers have already sold short there fill and the weak hand investors have been margin called or capitulated into a depressed sale of their shares, the stocks entire float becomes held by the strong hand investors.