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.
http://www.zerohedge.com/article/how-comex-lost-20-its-registered-silver-one-week-or-where-theres-smoke-run-theres-probably-r
Wednesday, April 27, 2011
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