SLW was $33's last time gold and silver these prices
Certainly, SLW has been outperforming by just about every metric (its own historic price per change in silver; against other miners, etc...). If the silver drop continues for more than two or more days, I think we are going to be hurting below $33. Think about this: if the last QE announcement couldn't even get our gem above the earlier highs this year, what will?
Even without today's mega hit (by the way, how often do you see such hits without at least some continued downside?), SLW looks like it traded above normal expectations of a blowout quarter. Unfortunately, I think Monday will be a sell the news day. The previous five days of trading action were truly amazing relative to the muted action in silver and gold.
The action in other miners is also quite frightening; for example, NEM looks like it is overshadowing a multi-month correction.