| Hi Frytown, Generally I agree with your overall thesis. However, more important than what timeframe they are trading, is what they are thinking of speculating in...be it an ETF, physical, or futures. If someone is interested in physical, they probably won't get upset with a $100/oz swing against them, maybe not even an ETF. But if they are thinking something like futures, or margining an ETF, it really matters. Not many people can meet $100/oz margin calls for very long.... So, determine your risk first, then whether you can stomach it or not, and go from there....JMO |