for you guys that arent big silver bugs...
Barclays silver ETF will have to buy 150 million ounces of physical to even start the ETF.
I forget what the global annual silver output is but 150 million ounces is a huge amount of an entire years worth of silver.
Factor that in that there is some 300 million ounces of silver already sold short under 10 bucks. Actually I bet there was alot of shorting going on at 9.80 right before it exploded today.
basically, silver is going way higher, and SLW will go along for the ride since a huge move in silver will go straight to their bottom line.