I decided to sell at $7 and cut my losses. As bullish as I have been this is not setting up well.
Greece is likely to default, Germany will likely quit on Euro, and the US is about to go into a full blown recession.
Will gold and silver rise from here? Probably so. But if the markets tank (or continue to) you will see more massive selling and as always miners go first and fast.
Good luck all.
I respect your opinion, so hearing that from you does chill my blood somewhat. But I wonder what is new in all of those things you mentioned? They have been known ever since I started "trying" to make some money with Alexco. Maybe they weren't really being faced by many? I bought silver related stock BECAUSE of all those things - as a poor man's gold (safe haven), except possibly the recession but I never really saw much of an upturn coming - more a continuation of stagflation. I see nothing but more of the same, maybe more inflation, so it confuses me when they things cause people to sell silver and silver-related stocks. Would you give me your side of this story so I can see where I am making a mistake, if I am?
I believe all the BIG players such as Hagg and Platinum got margin calls and bailed.
Not sure about the long time pumpers. Haven't heard a peep from Chit, OldHick, etc. I think most have lost their faith in not only AXU, but miners in general.
In you wanted to lose money as quickly as possible, miners were the best bet.