At any given point in time different markets are at different points in their long term cycles. Markets can be anywhere from just starting a new bull market to late in a parabolic top on the bull side. On the bear side once a market tops, it tends to go through either a bear market downtrend or a sideways consolidation that frustrates the bulls for an extended period of time (or a combination of the two). As a longer term trader, the goal is to try and determine where the market is in its cycle and to get positioned as early as possible to capture the biggest profits.
Two markets that are at very different points in their cycles are gold and Internet stocks. These two markets don't have anything to do with one another, but both are important and have their own following among investors. The key is forgetting about biases towards these markets and focusing on where they are in their long term cycles to determine what, if any, opportunities they hold.
Internet stocks have made a lot of headlines recently because they made huge moves to the upside in 2013. Then they crashed over the last few months. If you go back and look at a long term chart you'll see how this all unfolded.