Silver and uranium

See disclaimers in the side bar.

Disclosure:  Sold a little SLW today and bought CCJ to replace it.  Uranium is so beaten up, and unless the world stops using nuclear power, I don't think CCJ is going out of business anytime soon.

Gold and silver spot prices continued to rise today, but the mining equities didn't rise as much proportionately, so perhaps the trade is getting heavy, and the precious metals are due for a breather.  If SLW drops to the 30's, I'm buying the trading shares back, but I did not sell my core position in SLW.

Holders of physical gold and silver made some money today.  I'm still bullish long-term, but looking for a short-term correction, that may or may not occur.  In other words, since I don't have a crystal ball, either way, I'm still in SLW, but I did lighten up today, with an eye toward re-entering at a lower price point.

I tried this tactic when SLW was at $22 last year, looking to get back in if it dipped into the teens (bought original shares in the $2's and $3's), but SLW gapped up and never hit my buy price target.  Do I have regrets, since SLW has soared as high as $47?  Absolutely, but it was still a good trade, from a risk management stand point.  In other words, when you're right, don't get greedy.  I've been burned by greed before.

Having said that, this is now house money (twice), so I can afford to have exert more patience, able to withstand the higher volatility, and wilder price swings.  In other words, I didn't have to sell any SLW today, but I truly believe I can buy back in at a lower price.  We shall see--I've been wrong before, but when I buy right, it masks my selling mistakes.

And if it keeps going up, well, I can't complain, because I am still in.  End of my rambling thoughts.