I am still in small individual miners in force and still have some GDX. I may have panicked out of GDX a little premature. But I would rather be premature than give back gains. With that said, if today ends down significantly, I'll be tempted to buy some GDX again, for a pop Friday or Monday.
If next two days enters rally mode, I'll probably stay on the sidelines hoping for a fall next week.
I'm still in DXO, OIH, and other oil plays, but I'm not adding to them. Read Mish's BLOG for good reasons for oil to NOT rise. GDX I'm convinced will hit higher (50-60) in the next year, but not in a straight line. Also keep in enough cash to pay taxes next year. :)
I also have 2010 puts on TLT (bond valuation) that I may buy TBT (double inverse bonds). The bond prices rally is beyond any rational level. See graph. But there is no need to rush to front-run this trade, since this could go on for a while, but keep an eye on it. When this starts to change direction, it could be a stampede. See Mish for his thoughts on bonds.