Longtime investors know that the “sell in May and go away” rule has exceptions. One of those is when a market is already as beaten down as the resource sector is today.

Still, there usually is a dearth of news from mining companies in the early summer. With so many northern projects, the snow has to melt, the mud has to dry, and then the drills can start turning. This often results in a quiet period we like to call “Shopping Season.”

From that name, you can surmise our view. Just as we’re happy to see a car we’ve wanted to buy go on sale at the dealer, we’re happy to see Shopping Season create chances to buy stocks we missed before, at lower prices.

On the other hand, if there’s a company that’s run out of money or is in trouble for some other reason, now is a good time to exit. If the company still has a chance to pull off a win, we generally wait until later the year and sell if it doesn’t make it before Tax Loss Season in December. But if it looks like the company won’t make it now, it almost certainly will look worse in the months ahead.

Better to take our lumps and move on.

That said, recent events show that precious metals still react, as safe-haven assets should when fear grips markets. With so much uncertainty and strife around our world, gold, silver, and related stocks could rocket upward at any time. We always want to have a core portfolio ready to soar whenever that happens. That’s why we don’t sell for seasonal reasons. As a rule, we never sell a stock unless there’s a compelling, company-specific reason.

Not even in May.