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Silver Seeker Report #32: This Week in Mining; A Much Needed Healthy Correction

This was a volatile week to say the least but in a bull market this should be expected, especially after the metals essentially went straight up from March through early September. The mining equities sold off far more heavily and are trading with implied gold prices around $1,550-$1,625/oz. (depending on the company). If you learn to embrace these violent pullbacks, your returns could higher. For example, had you taken some profits in August or so, you would have been able to buy back the same companies today but get more shares. That is one strategy, with another being sit tight! If you can block out all the noise and understand why you bought precious metals and the underlying mining companies, this will be a much more enjoyable ride. As expected, with the metals getting smashed this week, especially silver, most companies likely held back news they would have otherwise released. Waiting for better market conditions increases the likelihood the market will react positively to a given piece of news. This could explain why this week's news was so light. 

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