Chris. I agree. I don't know if you follow Michael Campbell of Money Talks or not. But he has been spot on on every single turning point of these resource and PM markets for years, unlike either the permabears or the permabulls. Here is his current posture from his $9/month newsletter:

Personally, early last week I wrote some shorter term puts against some senior and mid term gold producers with an eye to cautiously playing the short term bounce. My overall exposure is very low to the gold and silver sector so I thought that a small position is acceptable in terms of risk. (And it is always about managing your risk, not about wishful thinking or greed.) I have kept the vast majority of my buying power untouched as I await a further correction after the current bounce.