Action speaks louder than words. So without further ado, here is a list of positions I closed today: TRE @ $8.45, NG @ $15.51, SSRI 300 sh @ $22.75, and NTO @ $5.86. At the end of the day I picked up 3 EEM Dec 110 puts at $10.30 (The spread was wide, but I wanted to have the peace of mind). My emerging market exposure is mostly through FXI, with with EEM on the side. From today's action FXI actually outperformed EEM. Russia, India, and Latin America took a much harder beating.
I'm happy with my PM positions for now. With the possible exception of selling the UNWPX held in an IRA account I'll keep the current holdings which are still considerable. My bullions and CEF now outweigh PM stocks, as the physical should hold their value better in a decline, relatively speaking of course. Basically I'm switching to a capital perservation mode. There's nothing wrong with the gains I've made so far this year if I can keep them.
I'm letting you know what I'm doing in my own accounts. It won't be the first time for my timing to be off, so the usual disclaimers apply. I still have enough PM/energy/base metal stock exposure if the market turns up from here, and I'm still net long after all said and done. But remember this, when times are good everyone is a genius. True character shows only when times are tough. This is true in life as well as in the markets.
Best luck to all!