It is perfectly sane to stay in cash at this point.
However, looking at the Gold miners, from a historical perspective, we are hitting levels where the risk is now reduced compared to the reward.
I believe GDX will hit easily above twice the current price by 2016. Of course, I have been wrong before.
But looking historically, entry into GDX has significantly less down risk than two weeks ago.
GDX is now at 46.47, GDXJ at 21.51.
I am adding shares here. good luck.