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NOTE: This was a Thursday morning post, although still relevant.  Apologies for the rasslin’ w. both location and WordPress problems…

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Silver is in a runaway move here.  There, I’ve said it. It could end within ten minutes of trading today, or it could end in two to six weeks from now.  I really believed we’d get a sharp pullback from our most recent moves, and perhaps we still will, but there’s no denying we’re in major breakout territory here.

I have no advice to give, save that you do not get reckless and leverage yourself into ruin.   I have been cutting back here, and adding to my gold names in hopes of a catchup.   This late in the day, however, is not the time to start getting careless.

Here’s the thing… this will end and likely soon, but it will not be The End, if you know what I’m saying.  In other words, there will be other opportunities to play this bull.  Make sure you have the capital to do so.

Right now, I’d be looking at underserved names… Ironically, SLW is one of them, as it had a hard pullback yesterday, if only to it’s 50-day EMA (and 13-week EMA as well).   I may grab back some of the exposure I sold there over the last couple of weeks.   I will know by 10 am what direction I will take.

I also continue to like AAU and a number of other small names which should be popping today.  Check also AUMN on the gold side, as well as IVN and BAA — two other late bloomers.  

Best to you all.   Oh… and Happy Maundy Thursday and Passover.  Think about going to church/shul this year.

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[youtube:http://www.youtube.com/watch?v=CEEUGaQTTQ0&feature=related 450 300]

(Can you believe this guy once married the most beautiful woman in the world?)

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It’s an unsettling time isn’t it?  Jake just said to you scant days ago, “Time to trim the sails, we’re in for some rough weather,” and yet silver keeps marching up to some argent Elysium, like a donkey with an egregious rutabaga tied to its head.

It can be frustrating, no?  Well, don’t take it hard.  Heck,  I sold almost 2,000 shares of AGQ the other day thinking I’d buy back in the low 200’s.  Silly me.

But I don’t let stuff like that get me down.  As I was explaining to a compatriot on The PPT today, we shouldn’t be afraid to hop right back on, even at a higher price, as long as we maintain the discipline to re-invest the same or smaller moneys that we originally received in exchange for our sold shares.  

This is important to remember.   Just like in the wider stock market, there are plenty of other shiny metal fish in the seas, and we need to build the maturity to be able to re-allocate resources to other, perhaps better valued opportunities.  A good example I can provide would be my decision, some time ago, to sell some SLW and apply those funds to a new stock I’d decided reminded me of old SLW at the $3 level at which I had originally begun buying it.

That stock, some of you may recall, was EXK.  

Today the cycle turns again, and I find myself selling off some (about 30%) of my “topped off” position in EXK in the $12+ regions.   Those on The PPT will attest that I took a full 10,000 shares off last week.

I have yet to buy any back, and I may never do so.   My eye has turned to other seeds that may enrich my garden plot.  Perhaps some GPL?  Some AG?  A touch of AUMN, or crappy BAA?

… or maybe, just maybe some more XG, my favorite spinoff junior goldie, which is beginning to look might ripe:

Stay thirsty, my friends.

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