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« Endeavour Silver Corporation: Raises Production Forecast | Main | Silver Prices Up Over 50 Cents: Fulfilling Our Prediction »
Thursday
Jul122007

Silver Portfolio Update: 11 July 07


The following is an update of our portfolio of silver stocks enabling us to see where we are and where we go from here. We are very pleased with the progress to date. We decided to take some profits from Silver Wheaton recently by selling 50% of our holdings, but we will buy back in when a cheaper re-entry opportunity presents itself.

Below is a list of what we have and a record of the progress that has been achieved to date.

HL $9.03 BUY
Bought for $5.27 has gained 71.34% - See recent article on Hecla.

PAAS $28.25 BUY
Bought for $18.00 has gained 56.90%

SLW $13.51 HOLD
Bought for $9.41 has gained 43.50%.
Sold 50% on 10 July at $13.48 for a gain of 43.3%, we intend buy it back later.

SSRI $36.48 BUY
Bought for $19.98 has gained 82.58%

EPL $C0.93 BUY
Bought for $0.53 has gained 75.47%. See recent article on Eagle Plains.

Two recent additions are as follows:

EXK $4.97 BUY
Bought for $3.97 has gained 25.18%.

MSV $C2.61BUY
Bought for $2.80 has lost of 7.2% was 13.90% down. See recent articles on Minco here and here.

For the more hyper active traders amongst us we predicted a 50 cent rise in the price of silver on the 1st July and by the 11th July it was up 62 cents so we hope that your short tern trade worked out for you. Going forward we intend to identify other such short-term moves that may just add a little spice to your day.

Please read recent articles before buying any particular silver stock as we are trying to post updates on a regular basis and the stock that you are intending to invest in may have entered overbought territory. However we do believe that this portfolio of silver stocks is heading to higher ground so when you look back these prices will look really cheap lessening the importance of whether you bought at the very bottom or not.

As for silver itself we believe that it may well have just started an upward breakout, which we expect to lead to a great run to $20.00. We know that the summer does produce lacklustre shadows but so far there has been a little excitement and this summer could well turn out to be different.

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