It looks as if everyone is getting bullish on everything.  I still have HL and may miss the market move but we will see.




HL got bombed today - down 22% - after the Feds closed one of its mines until it is made more safe.  This cut anticipated production this year from 9.5 million ounces of silver down to 7 Million.  The silver is still there and Hecla is very lquid with no debt so whilst the news was bad prices shouldn't have dropped like that.  Volume was over 50 Million shares compared to the usual 7 Million - no doubt many pension funds etc had to exit once prices dropped below $ 5 per share as that is the lowest value of a stock many are allowed to own.  I was up about 12% on my position so the losses are less than the decline but it wasn't a good day.
Sprott's silver in Cananda is now trading at a 30% premium to paper silver.  I still have HL as a large and only position.
You can be sure that "they" will hit both gold and silver again but all the signs are showing that dealers are increasingly finding it difficult to find physical supplies.