today is the day to short, with the tightest stop. A silver price breaking above 34.55 makes me cover. I short just in front of that price down 20 cents. Moving above 34.55 by even a nickel, and I reverse the position to long.
your friends short had a higher probability of success than any other trade, his risk management might be debatable but I have no idea what pool of cash he's playing with to comment.
haven't posted a prediction in a while, let's see if i still got game.
for you fundamental guys, qe3 hasn't started yet (i think) and large money funds won't be allowed to deploy new capital to an overextended rally in silver by their risk management teams. If silver pulls back i suspect it will be short lived but i'm hungry for some calls. at lower prices.