I have sold nothing and in fact have been adding value (more UNG and a gold miner I have been quietly waiting on with a butterfly net). Whether we are in C down to HUI 265-275 or on the verge of a large rally, buying now - in increments - makes sense if you are big picture bullish, which I am. Bullets are flying everywhere. Euro bulls and oil bulls who have not been mowed down are surrendering, puking up their gold miners for good measure. This is why I sold AUY & SLW in mid August in a trade off the then-bottom. Those trades didn't mean a whole lot compared to the decline in my accounts over the last half of the summer, but they did keep me in a position to buy. Once again, final cash wad awaits C down, if applicable.
What I am pleased about is value is not only showing up in the PM's, there it is in NatGas and maybe one day soon in oil and other commodities. Given the macroeconomic backdrop, I think the deepest value is in junior gold miners and cashed up exploration companies. I shall not sell value. I will keep acquiring it for a later date when the markets sort themselves out. By managing cash and priorities for different accounts, I have personally come to be at peace with the 'process' that is ongoing here. Nothing would please me more than to get HUI 265 over with this week. But again, either way...
Meanwhile, here are a couple charts showing gold's (GLD) progress vs silver (SLV) and oil (USO).
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