Has it ever been this low? Of course, if the price of silver does not start rising, then earnings will fall and PE will rise. Where this silver market is going in the short term is anyone's guess. As I sit looking at my depleted EXK shares I can only admire those who sold out just weeks ago when EXK was touching $7/sh. My basis is much higher than that! Oh.....the pain!!!!!
I'm starting to feel really stupid but, nevertheless, I will not be shaken out of my EXK shares and let someone else enjoy this bargain basement entry point. "Stupid is as stupid does...." GLTA
I'll be right here with you quailrunrd. I also envy people that were able to get out close to $7/sh. Even if I sold at $7, I would have taken a big loss. But nowhere near as big as the loss that is staring back at me when I look at my portfolio. There's no way I could ever justify selling down here. I just hope that something changes soon.
Beast! I remain an optimist in silver and a total pessimist on the dollar and treasury market. I am convinced along with the likes of Jim Grant and Peter Schiff (as well as numerous others) that the dollar is headed towards a zero value. Silver prices may not rocket to the heavens with the collapse of the dollar but it certainly will have more purchasing power than it has ever experienced in the past. So many markets are rigged by central banks and their connected banker friends which may represent the "new normal" but artificial markets are subject to horrendous movements at the drop of a hat or the flight of a black swan.
I don't know about you, Beast, but I view my precious metal investments more as insurance than as an investment. If they start rising into a screaming bubble, then I will sell. We have not seen that bubble yet. GLTU
P.S. It still is painful going through these sharp declines.
EXK share price is now trading where it was in Oct, 2010. Seems to me EXK has been an expanding profitable silver miner and has grown nearly exponentially since then. Fundamentally, how does the current share price make sense? I dunno.
I don't know why you would think a low PE ratio, great earnings or anything else matters when scamstreet decides to take your money. From the following post I'd say they've done a wonderful job of that.