From Louis James in Casey’s International Speculator:

My own thinking has evolved into seeing 2009 as being like the eye of a huge storm. The sky has cleared substantially, and the sea looks amazingly calm, given what we've just been through. But it's not over yet; the trailing edge of the storm always delivers the most damage, and that’s yet to come. Anyone fooled into abandoning shelter is taking a terrible risk.

This doesn't mean we should stay huddled in our shelters, however – it makes more sense to go out, restock supplies, repair what damage we can, and get ready for the deluge to come. The renewed fury of the storm will sink many more ships, but it will also make vast fortunes for those who invest in the ships that survive and even thrive in the tumult.

Essential strategy: For the near term, buy only the most storm-proof [junior mining stocks] you can find – ideally with great discovery or development stories that will deliver exciting news regardless of market conditions – and hold a good chunk of cash in reserve for the next big buying opportunity.

Nothing goes up in a straight line. That "big buying opportunity" is coming, and you'll kick yourself if you don't have any cash on hand to take advantage of it – and kick twice as hard if you paid too much for something that goes on sale.

Worried about sitting on cash with the USD in a death spiral? Remember: gold is cash with terrific speculative upside.

Crux note: If you're serious about profiting from junior mining stocks, you need to be reading Casey's International Speculator. It's "must read" research for anyone investing in the sector. To learn more, click here...

More on gold:

The gold-mining industry's "skeleton in the closet"

Gold must soar over $7,150 to best previous record

Why you shouldn't care about short-term gold predictions