Carl:
Take a look at www.hecla-mining.com for financial information.
You bought at a very attractive price; I intend to buy another block when I'm a bit more liquid. I also intend to hold these shares through the duration of the bull-market for commodities (10-15 years).
As during the bull-market for finanacials, there will be episodes of excessive valuation, at which point I may sell to re-establish the position at a more favorable price later on. I do not consider owning a long-term position for a 20% move, but rather sell at the resistance points established during the preceeding bear- market with the intention of re-establishing the long-position once again. Those points for Hecla exist at $12-$14 ,$24, and $34.
As we exit the long bull- market for most other equities (a transition that can take 2-3 years, before it is clearly recognized), the bull-market for commodities will become fully established and recognized. At that point, the proxy equivalents of these commodities, inluding the precious metal group, (stocks of mining companies, etc.), will begin a round of appreciation that ultimately will take out the last bull-market highs reached. In other words, I will yet own Hecla at $34, as I will at $65, and farther. The charm of any bull-market is that it continually surprises on the upside, as does a bear-market on the dissappointing downside.
So, I shall participate in this game the full nine- innings, without regard to short-term events.
Yours, T.V.H.
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