I remember all through May/June/July, reassuring myself that as...

I remember all through May/June/July, reassuring myself that as long as AU$1400 held, then so would I (continue hold my gold stocks). There was a quick fake lower, which made my heart skip a beat, but I held through anyway as the break wasn't confirmed.

Now we are holding above AU$1600 & many gold stocks are actually trading in the same range as May/June/July or lower.

The only difference now is the speed at which the US$ price has dropped. This has caused a big panic & margins to be hit (especially for those that went long in the recent run up).

It's very tempting to just sell everything & go away for a while, but when sentiment (mine) is sour that's usually when the tide turns (the reverse is true when I start getting overly bullish).

I'm just glad most of my stocks have plenty of cash to get them through this volatile period in the markets. I think this is the key for any stock at the moment. Having said that, I do have a couple of stocks that are marginal at present (only have enough cash to last 2-3 quarters). Their potential stops me from selling though. Plus they only make up a small percentage of my portfolio. Risk vs reward!!

Anyway, I've decided to hold tight for now. Sitting on 50% cash so can afford to. Still doesn't look good when your stocks drop an aggregate 10% in one day though, with possibly more to come. Just glad I'm not leveraged, though will consider it if we get a double bottom at 2009 lows.

Good luck everyone. We're going to need it.