Hi Dukes!

I am convinced that we are going to see much higher prices for both gold and silver and I am on record that 2011 will be the year we get a significant default in a delivery month for silver, so I have no axe to grind with anyone that is predicting big things this year. I am just not buying into the hype based on some reports posted on a chat forum that any former traders are in fact planning to trigger a short squeeze. It may happen, and IMO a default is inevitable. But we will not hear it broadcast far and wide before the event.

I am all in right now, having thrown the last of my dry powder into this market earlier in the month. We may consolidate at these levels for a while yet, and perhaps the Cartel will bamboozle enough traders into selling to new lows. Either way, I am convinced the longer term direction is up and I am quite content to hold my positions until that breakout is achieved, however it arrives.

cheers!

mike