I have been eyeing it since back and January when it was around the same mark (17.00)...watched it nose dive into the 13's and back again. Somewhere along the way I was convinced by one of the countless Sinch blogs to take it serious and today I used today's "pause" to get in the game.
I am far from a precious metals buff but I like the pure-play on the multi-faceted metal to mix it up in my portfolio a bit. It is a departure for my "value-based" stylings but when compared to gold I think it is definitely the metal with the value. These guys are just buying it up. I also see folks taking a harder look at all of these crazy ETFs (as much as I love to dabble) and when the jig is up many will be sad.
Thus, when I look at risk reward if/when metals take flight, the "pure plays" like this and CEF are going into orbit. I don't have any buried in my yard so don't come looking for me...
Today it was either SLW or doubling down on NBG...regardless of how you feel about SLW I would imagine you think it is the lesser of 2 evils!
But all of you metal bugs should be nervous that I am in with a bit of conviction now. : )
There might be a little binve influence here as well, even though I disagree with many of his conclusions I enjoy the thought process he brings to the table...among other things. It is why I never discount anything posted here...opposing viewpoints are needed to get a better handle on our own.