I like "But man, riding the floor is tough" quote in this article. It descibes our position so well. As well as, "Here’s to waiting… the hardest part."

http://thecrux.com/if-you-want-to-make-big-money-in-commodities-this-is-required-reading/?mkt_tok=3RkMMJWWfF9wsRonuavMZKXonjHpfsXw7OoqXKGg38431UFwdcjKPmjr1YICS8R0aPyQAgobGp5I5FEASrLYUrdlt6QKXw%3D%3D

This is the “secret” to making millions in the resource sector

From Dave Forest at Pierce Points:

‪It’s been one year, two months, and 16 days.

And counting…

Further to the last item above, that’s how much time has elapsed since the gold price hit $1,192 per ounce − a four-year low, and the bottom we’ve seen for prices in recent memory.

On that date − June 28, 2013 − bullion investors were reeling. Gold had fallen $500, or 30%, in just six months.

And then came the betting.

Observers from all corners of the market immediately hailed it as the “buying opportunity of a lifetime.” (Actually, many analysts had begun with this sentiment even earlier − variously pegging $1,300, $1,400 and even $1,600 as back-up-the-truck prices − which the market quickly blew through as gold continued its descent.)

Of course, buying dips and drops in resource markets this way is far from a new idea. In fact, it’s a much-espoused cornerstone of contrarian investing.

It’s common to hear pundits talk about these sorts of themes. Very often we’re confidently told to “buy when there’s blood in the streets” and “be greedy when others are fearful.”

It sounds like such an easy thing to do. And yet, it’s so, so difficult.

Just ask anyone who bought gold on June 28, 2013.

By all current appearances, such a purchase would represent a savvy investment move. Gold seems to have bottomed at or slightly above that level. With a perhaps-growing sense this may be the floor for this commodity.

But man, riding the floor is tough.

The problem is timing. It turns out that many people have the intuition, insight, or plain good luck to buy at the right time. Such as last June appears to have been.

But then comes the waiting.

The hard truth is that rebounds in commodities often take a long time. Days of grinding along at depressed prices turn into weeks, then months. Months turn into years − with little to get excited above, much like we’ve seen in the gold market recently.

And that’s when investors start to get edgy.

As the mathematician-philosopher Blaise Pascal so succinctly observed, “All men’s miseries derive from not being able to sit in a quiet room alone.” One of the quietest rooms in the world being a resource market during down times, the way gold is at present.

When sitting alone here, the way gold holders have been for a year and a half now, it’s easy for unsettling thoughts to come swimming up. Did we make the wrong call? Why is it taking so long? Could the naysayers be right after all?

And even for those of us with the steely will to resist these self doubts, there’s simply the boredom. The bottom line is − it’s hard to do nothing, sitting on positions that appear to be going nowhere, day in and day out.

Sure, it’s easy to show a hind-sighted graph like the one below (the TSX Global Gold Index). And say, “Look how you would have profited if you’d bought gold stocks at the bottom in 2004. That’s what being a contrarian is all about!”

The reality on the ground however, is that many of those who bought at this “prime opportunity” were staring, for years, at a chart that looked like this:

‪Braving those waters takes a lot more focus, courage and meditative calm than most champions of “buy low, sell high” can muster up when the chips are down.

And that’s really what it takes to make a lot of money in this business.

Here’s to waiting… the hardest part.