Comment: Covering most of my short position...

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Covering most of my short position...

No, I'm not afraid that silver is going to double overnight, but the selling this week has been intense, and it is only a matter of time until some sort of relief rally gets underway (it may already be).

I'm still holding lightly short in case we get a further washout, and I may even pick up some May COMEX puts (with 1 week until expiration), but this approaching low is only a near term low. After some of the oversold conditions have been worked off, I will be adding back the short positions I am covering and looking for even lower prices.

We are nowhere near the ultimate low.