Larry,
Would you consider buying NEM & PAAS calls for the options portfolio anytime they get close to their 50 DMA. It has worked pretty good for me for the last several months. I have been selling them everytime the stock gets about 10% above the 50 and have made new highs. I do still have my base position in mining companies that I will not sell.
Precious metals are in my P&F data base. Now that my core position in the mining stocks is so profitable (I've been in them since early in the year) I will gradually accumulate some additions that will include some sort risk protection.
I won't use something a noisy as the 50 day simple moving average as an entry or exit price. And I won't take proftits at a pre-determined level. But other than that, I'm with you.