Right or wrong, I sold my SLW for a small loss. I don't see any upside being in the market with the issues in Washington. I think people will be taking profits this year rather than waiting until next year. I am holding my CEF as this is more of a pure metals play. Now, I'll sit on the sideline waiting to buy SLW back when the dust settles. Best of luck to SLW shareholders.
“Right or wrong, I sold my SLW for a small loss. I don't see any upside being in the market with the issues in Washington. …”
If you are connecting the “issues in Washington” with your losses, you must think things are improving there. Either way it doesn’t bode well for counterfeit money. It seems a whole bunch of people are signing petitions on the White House website to secede from the Union, in fact many from all 50 states, in a peaceable fashion. If that were to happen you can be sure that the dollar would be “toast”, and only real money would again circulate, at least in many states.
Where that did happen those states would experience an enormous uptick in their economic prosperity as people left those states that did not see fit to take that approach. MAYBE Washington would finally begin to see the light and make corrections based on its declining political fortunes for “dissing” the US Constitution, but don’t believe it as long as there are people like Harry Reid and Nancy Pelosi remaining, along with a bunch of liberal US Senators that never seem to lose their seats. Stupid is as stupid does when it comes to the thought processes of voters in some states. Undoubtedly those states will have to build a Soviet style wall to keep their residents in to fund their failing financial fortunes and the gravy train of the Washington socialist “money” spigot will get turned off that had kept them afloat.
I sold mine then got cold feet and bought it all back, just in time to make a few hundred bucks. I think SLW occupies an industrial niche that over time will suceed. Predictions that SLW will go way north of 50.00 seem reasonable to me..
If instead of a knee jerk sell you'd sold a covered call due December at the money or a buck higher, you could have ridden your investment a bit more.
Two funds occupy half my portfolio, PHT a CEF, and ARR an MREIT. Both have two bucks to go to recover from last month's debacle. If they don't they pay a dollar amount every month more than adequate to pay my mortgage and then some.