Wednesday, April 27, 2011

How The Comex Lost 20% Of Its "Registered" Silver In One Week, Or Where There's Smoke Of A Run, There's Probably A Run

I blogged about this reclassification from registered silver to eligible silver last week.  Now I feel really dumb I sold 20% of my mining holdings this morning.  In a secular bull market, be right and sit tight.  Don't try to pick the tops--you'll be wrong more often than right.  From a risk management stand point, taking partial profits was the prudent strategy--I won't beat myself up too much.  But this imminent shortage of physical silver could be a cataclysmic event, a shortage I knew of, but didn't listen to.  Another painful lesson learned.

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