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Quite an explosive day so far... ;-) Will be interesting to see what happens when the US wakes up.

...whether the Fed is going to send this flying or sinking later today!

Pretty brutal out there. Miners generally getting pummelled.

And given the slight draw back on gold/silver overnight I suspect today is going to be negative.

Alsx, I too have been in Fres since early 2013 - the first tranche I bought was at about £15.55! I have managed to average down over the years and am know sitting at about £9.40. I hear what you're saying about stop losses but I recently got burned with RRS - set the stop loss a whisker too tight (£58.50 a few months back), it got touched and then the share price romped on to a high nearly £10.00 more than that!

Cheers for that. I ducked out of RRS too soon (stop loss got tickled) and don't want to repeat that mistake!

Corlis, Do you keep an eye on Fresnilo? If you do I'm curious as to what the charts are saying about them. Regards, Q

FRES is up quite a bit on the February low of 640. What next? Is the whole demand/decreasing supply argument holding up? Are we going to carry on shooting up? Is the dollar going to strengthen and pull things down again? Is now a good time to take profits or just let it ride?

Good start to the day. Not that I'm getting too excited - normally ends up negative after a big start!

There was a piece in a Moneyweek/Moneymorning email recently suggesting that it would be worth sticking with miners for the next couple of years. The gist of the article was that Chinese banking is apparently quite sensitive to commodity prices and reflating those will help them out. Similarly central banks would be also happy to see inflation rise through the rising costs of raw materials. I guess time will tell! Furthermore, there don't seem to be a huge amount of short positions on Anglo according to the tracking webpage. Corlis, as always interested to hear your views.

I sold a tranche of British Aerospace to buy AAL when they were roughly on parity. That evening the Paris attacks unfolded - the following week BA shot up, AAL slid down and down... I also set my stop loss too tight on Randgold Resources - it triggered at 5850. This episode alone has cost about £5-7K! Like you say, never try and guess the market.

Share price seems to have responded to the news. Will be interesting to see how the next few days pan out.

Corlis, When (if) do you think this will turn? Opportunity to buy in? Regards, Q

That's harsh - very hard to know what level to set stop losses at with the dramatic swings in commodities recently. I had a stop loss of 5,800-ish on some Randgold Resources shares which was touched. They were nearly £10 per share more than that recently! I'm a long term holder of AAL so still in the red (average circa £8.92). One day I hope I'll get back in the black!

The market cap is circa 9.6B. Extrapolating from the current share price to a market cap of 13B would give a share price of circa 1,019?

Up 8.5% so far? No doubt some clawback later but blasted through 600.

Will be interesting if the silver price can decisively break through the $16 barrier. Briefly over today, last at that level October last year (briefly) and fell through $16 about June time.

Timing is everything... In my case I sold a tranche of BAE to top up on AAL when price wise they were on parity (450-ish). That evening the Paris attacks unfolded. BAE shot up the following week, AAL continued its downward spiral - only now am I back on track but for the sake of a day it could have been quite a different story.

Is it correct that there are massive short positions being held on silver? Some reports I've read suggest that this is the case. Similarly, the gold/silver price ratio is apparently way off historical norms. At what point do the shorts throw in the towel?

I don't understand yesterdays sell off either. Results looked decent, particularly in terms of production? Or is there a wider concern as to the silver price?