I don’t think there was any particular reason, it was just a mixed day in Silver companies where half went up and half went down. Because it is a penny stock a move of a penny or two just moves the dial more. Hochschild and Bear Creek Mining sold off almost the same amount percentage-wise, and many other good companies like Alexco, Impact Silver, Aurcana, Fresnillo, Fortuna, Excellon, etc… all sold off today in the silver space. Many of these stocks have had big thrusts up in share price, so profit-taking and returning back down to moving averages is normal and healthy.

If some of these stocks sold off even more for another 10-20% down, then I’d start getting interested in adding back some positions I’ve trimmed in the strength.

With the situation that is developing in Turkey, PMs may get a safe haven bid next week, which may turn around and spike these miners right back up again. We’ll have to see how it plays out.

Silver JUNIORS have outperformed the Major Silver and Gold stocks. Which is WHY we mentioned that being Selective would allow one to beat the “just buy the Kitco list” dart throwing method.

There were so many analysts, economists, and pundits that said to ignore the Silver and Base Metal stocks at the end of last year and beginning of this year and had left them for dead, and some that had mocked silver mining investors.

Well, if they really had a clue then they’d have known that a rebound like this was long overdue in the JR Silver producers, development stage silver-zinc companies, and the silver-zinc explorers. Not to mention, when the metals start to move in either direction, silver typically moves much more than Gold on a percentage basis, so is leverages up the silver miners 2-4 to 1 compared to Gold price movements.

That’s why we were discussing Jr Silver miners so hot and heavy in Dec/Jan/Feb/Mar and anyone with any vision and understanding of the PM mining space knew that this is how the trend would play out. Others mocked the small Silver companies and those that invest in them, but they only lost a great opportunity by not being selective in buying the big names or getting into the zombie exploration plays on their newsletters way too early, and missing where the big gains would be made.

The good news is that we have a long way to go from here for years and years. The very easiest initial 100-500%+ gains have been made, but don’t feel like you missed the boat if you didn’t participate, we still have so much upside that we’ll all look back in 1-3 years and realize just how cheap things were at this point in time.