Gold bugs swatted but keep buzzing

``Two intermarket relationships I have found valuable to trade and invest in gold, remain favorable. The Gold:XAU is hovering around 5 and the Gold to Oil ratio is 7, both are at levels historically bullishly supportive. Disappointing performance of the miners has been this years unfortunate developement. Reasons possibly explaining this are increased mining costs, new mining legislation, and the overall credit induced, risk averse, selling in the broad markets. Whatever the cause, until there is technical evidence the relationship is favoring mining stocks, I am splitting my trades between mining stocks (GDX) and bullion (GLD.)''