Portfolio Update: Adding to My Silver Position (September 20, 2016)


Just a quick update for readers this morning — I added to my position in Alexco Resource (AXU) yesterday, just ahead of today’s FOMC meeting, when everyone finds out whether or not we’ll be getting a rate hike this month (my guess is no way, Jose). I picked up 5,000 shares of AXU @ $1.77/share. I now own 10,000 shares in total.

AXU is one of the more liquid silver equities out there, and in this particular trading account that I was using, I needed to stick with something that was listed on the NYSE. Otherwise, I might have gone with a junior explorer that was listed on the TSX, TSX-V, or ASX. In any case, I think that AXU represents decent value for the price that I got in at, but I wouldn’t necessarily say that shares are cheap right now (at the current silver price of around $19.00/oz).

Here are more thoughts on AXU.

Anyway, I think this most recent period of consolidation in the precious metals stocks provided another good buying opportunity for anyone who was looking to top off their positions before the next move up… I’m speculating, of course, but I’m anticipating silver moving passed $20/oz in the near future, particularly if the Fed doesn’t raise rates today.


For the record, I’m still extremely bullish on both gold and silver.


I think we’ve got quite a ways to run up, still…


Happy Hunting!

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Investment Hunting
4 years ago

I bought 1,250 shares at $1.81 a few days before your transaction at $1.77. I like this stock as a bullish silver play.