ask yourself, what are commodities in general telling me?  for that matter ALL markets.  copper, wheat, rice all topped in Feb.  TLT began its long rise. they were the first warning signs.  then in May, stocks, oil, and silver topped.  i shorted the hell out of silver then and made a fortune.  that was a huge confirmatory red flag for me.  i told you way back that these different markets top not all at once but sequentially over months time to create maximum confusion.  the silver retrace to an exact 61.8% was classic.  you already know i was watching that like a hawk.  when it refused to penetrate weeks ago i warned, waved my hands, jumped up and down here on this thread but no one esp. yourself would listen.  silver is now down 38% from the top.  AND the motive move for this wave 3 of 5 down is only 2 days old.  its broken convincingly its support at 34 on high volume.

i told you Ben's decision on Wed was one for the ages.  the 3rd or 4th confirmation that no more USD printing was in store.  you can kick and scream all day long that this is what he's done up til now and this is what he wrote in his 2002 paper but the fact of the matter is he hasn't and he won't.  the USD is headed up in an unrelenting move and is going to crush all risk assets in its path.  best get out of the way.

edit:  i should add that SLW and other silver stocks peaked in April.  just another in the sequence.