QE is the only option to extricate Europe temporarily from its acute state of crisis. If this happens as expected we can also expect them to continue further QE's because no one wants to be the man or woman known for implementing policies that will cause the world to spiral into a deep economic depression. So they will kick the can down the road as many times as they can ultimately leading to hyperinflation over the next ten years. This is the main reason why I am so bullish on PM's at their current depressed levels, in addition to which the COTs are strongly bullish too, as they show that Smart Money (Commercials) is thinking there will be QE coming very some perhaps as early as June 20th.

A very important low in the big commercial bank net short position along with the dramatic reversal Friday favors a big move in Silver and Gold am still maintaining stops beneath the September, December and current lows, which coincide and that is no coincidence I might add. so what will it mean if silver does actually break to new lows I am not sure but looking at the ratio chart above a new low would probably be a head fake.  Remember the game is to get the little guy out at the lows, reduce shorts as much as they can and pile in as cheaply as they can.so if I do get stopped out i'd be ready  to jump back in if silver then breaks back above the breakdown point.