If you're long & concerned, I currently see the max downside in SLW as 9% but its been unbelievably resilient to further pushes downward. Combine this with the fact that silver futures sellers look to have been completely exhausted in a downward move started since October and the odds say if silver futures resist going any further down than 28.65 this week, there is a strong, strong possibility of a 10% rally in silver, which may represent 20% in SLW. Caveat: emptor: Odds are what they are, the odds of you getting struck by lighting however small still exists, remember that because even though odds say a reprieve is due ....well...exercise caution
disclosure, I am currently short and look to reverse to the long side most likely today with tight stops. If 28.65 gives way $27.00 becomes a reality and i will reposition to get short again.