SILVER UPDATE

Silver prices keep pushing higher what more is there to say. I said a raid was imminent Monday through Wed and we got a huge one on Monday. And unless you are an expert trader you probably were just like a deer in headlights. The paper action was just to fast and scary. I for one am glad i missed it (I stink at day trading). 

So where do we go from higher? Higher of course. Just review the checklist if you are nervous and buy the dips. I think we go to 45 some point this week and I expect volatility, hopefully  not like yesterday. Staying the course not adding until we get a substantial pullback.

COMEX report Courtesy of Harvey:
"The total silver comex fell by 2382 contracts in contrast to gold, as the new reading for today came in at 146,270 from Friday's level of 148,652. Please remember that silver blasted to $43.05 by 4 pm Friday. Thus when you see a huge rise in silver and a drop in OI you can bet the farm that many bankers have sought psychiatric help in dealing with the meteoric rise in silver". 

"The estimated volume today was so huge and defies logic. It came in at 151,999 to represent a total of 760 million oz of silver!! This is approximately 108% of annual global silver supply. The confirmed volume for Friday, the day the silver rocket blasted off for unknown northernly destinations, came in at a very high 132,545 contracts". ~