As I wrote at around 7 am, I'm short silver and although it's too early to tell, I think that 7% down I wrote about a while ago, is very likely now. Those calls from yesterday are obviously at a loss today, but measured against the net profit yesterday i couldn't lose. They are dated out to dec so, anythings possible, they can come back. Today's short more than makes up for those calls possibly expiring worthless 4 fold over.
the technical damage is severe, the writing on the wall says 31.70 is todays or sunday night target on silver.
keep your long powder dry for an opportunity to get long next week, i think;)
$31.738 tonight per "31.70 is today's or sunday night target on silver" is close enough.
There is significant danger here for the bulls tonight if silver can't get up back past $32.04.... a target in the 30.xx's becomes very likely in such an event. That would be perfect for bulls actually, and what it sets up moving into Nov and December bull season.