I only trade a small amount of my overall holdings. For years I have waited for the big moves. They can come at any time, like a woman who is perpetually 8 1/2 months pregnant. But, I really enjoy trading, and am working on those skills.

Yesterday, my inner trader voice told me, "wait for a potential engulfing pattern after the gap down." And my inner investor voice said, "Yes, but if you wait too long, you may miss this entry point." I can't trade all day either. So, I caught some of it, but not the full move.

As a result of my long side bias, I miss some of the potential swing, but decrease the odds I will be looking upward for a reentry point. I almost never trade juniors like Mag Silver, but did it because I thought it would come back down in spite of the new drill results. Too far too fast. I have a core position in that stock I do not trade.

And I never, EVER short the mining stocks. Shorting is for Starbucks and useless consumer stocks. I may buy some puts late spring if the mining stocks get too "jiggy" with it this spring.

Due to the gold/oil ratio, I am biased toward oil at the moment. Recently bought some Thompson Creek, which is the only publically traded primary producer of molybdenum, critical for strengthening oil and gas infrastructure and drilling equipment. Moly was cut from $30/lb. to $10/lb. this fall. Freeport and Rio Tinto also produce moly, but are not primary producers. Incidentally, Great Panther has a moly deposit, though it is too early to say how big it will be.

Just finished The Gold Wars by Lips for the second time. What a fantastic book!