Stone,

1) always - ALWAYS - hold enough cash so that if there is a crash you can employ it to buy up the bargains. You will become whole at a much lower price.

2) Juniors are undated call options on gold, a concept that I and harmlesbob have stated here previously. So hang on to the good ones. Don't get caught in the panic sale mode.

3) At the other end of the barbell/spectrum, physical (and surrogates like CEF and GTU) is money in the bank - not cash, money.

4) I'm not much for getting attached to big producers or representatives like GDX or HUI-like funds; but I use them to trade. I am in cash now since last week in this part of my portfolio. Charts are overbought, but consolidating.

Generally, I'm not in the deflationary camp. I'm optimistic on gold, silver, PMs going forward, so my portfolio reflects that.

All JMHO - do your own due diligence.

Strike