Is this a good time to recycle some AGQ profits into ECU?

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qantwar

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Is this a good time to recycle some AGQ profits into ECU?

posted on Apr 30, 2011 07:39PM

I have been long ECU in my brokerage account for some years now, and have no intention of selling any part of the position.

But when silver was at $30 I decided to take a risk with the funds in a small Roth IRA I have and put all of it into AGQ (double silver ETF). At these silver levels the account has more than doubled, and with ECU under $1, it seems like an almost irresistable proposition to sell AGQ (at least in part) and buy ECU.

I am a long term investor and not looking for a short term quick trade, but on the other hand buying mining stocks in May gives me pause, I have the feeling that the metals could continue to outperform the mining stocks this Summer. I also didn't think ECU would drop sub $1 again and I don't think this will last very long.