Silvergasm. I'm still bullish metals. Wish I would have picked up more silver on this pullback, but there's still time for plenty of upside.
The only existential question left is where to sell! Silver over $40 really gets into apocalyptic territory, doesn't it? I mean, you want to sell to take profits, but then what do you put it into? Interesting that the silver miners aren't really participating more at current levels. Explain it away with hedges or with oil prices, but all were higher a month ago when silver was $5 cheaper. If I had a clue about miners movements, I'd be a richer man. BTW following platinum with interest. Palladium may lead in this circumstance, but the Japanese Tsunami has certainly created a lot of noise/uncertainty in this market.
Where to sell? I don't know where but I can tell you when- 5 to 10 years time minimum. Apocalyptic territory? Nonsense. Its just a bubble, stop trying to be clever and just look for a good place to get onboard.
Old trading method don't wait for the bottom or the top. If you are in profit take it! $40.00USD will be a pure psychological number. Alot of longs got in at $28.00USD to $30.00USD range. Which means most people could book a +25% profit. Still trying to figure out some more stuff for you but I had 4 laptops stolen and I had alot of trading stuff on them which could help others on E.T.. Oh well to bad for the trading community. Akuma
I'm in at an average price of $15.24 and I do not plan to sell anytime soon. Asking a silver investor to sell at $40 is like asking an apple investor who bought AAPL in 2003 at $7 to sell in 2005 at $40 because it was already a 5 bagger.
Bull market rule - 'don't sell unless you would sell short' This applies to your core position, obviously if you pyramided like a mofo in the recent move, then you might wanna unwind some of that if this move keeps going, and get your risk back to more reasonable levels.