That was the week, that was. Having misread the overnight Sunday downtick and added to my stash (and made a day-trader's turn of 4%), it soon became clear this was ugly. On Wednesday I bailed on the main stash (of silver: the gold is a long-term thing), realising a gain for 2011 of a tad under 30%. Of course, last Friday on an MTM basis it had reached 45% ...
All credit to Bullionvault whom I use for PMs: they made a very fair market continuously, throughout all the parabolic carnage. PS that is not a recommendation: but it is certainly a commendation of the highest order.
Debate now rages as to whether Friday marked the bottom. If & when a bottom forms I expect to be back in again, because I have come to like the dynamics of silver a lot.
Next week I will do a proper post on the mayhem in PMs, oil etc. For now, suffice to say, the whole commodities thing reeks of manipulation - details to follow. The Big Boys are lashing out; there may be worse still to follow in this regard; and it's a very dangerous arena for anyone trading on margin (which I never, ever do). When the elephants fight, the ants get crushed.
Unless they are very nippy !