With the absolute beating that precious metals and mining stocks have taken lately, it definitely has given me pause and forced me to consider whether I have it all wrong. And after a little reflection, I have come to the conclusion that there are really only two ways to think about what's going on.
1) The bull market in gold is over and buying on the way down would only be throwing good money after bad.
2) The reasons to own gold remain as strong as ever, and we are simply in the midst of a brutal correction, but one which presents a great opportunity for those with the fortitude, even if the bottom is not here yet.
That's it. As far as I'm concerned, those are the only two options. And I think you know where I stand.
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