Pic,

I'm not shorting any markets, least of all silver. I don't think we have much further down to go, and I am surely not betting any money on further drops in prices. I have been expecting the shakeout below $20 for almost a year. Now we are here. If an investor has the nuts to bet on lower prices, he can gamble away his money. Not me.

By "riding the markets down" I simply meant I was along for the ride, not net short. The commercials have covered nearly all their shorts. We are near the bottom, in my opinion. Could I be wrong? Naaaaaahhhh...

My other 50% is in cash. I used to think I wanted my savings to be 100% PM's. Not anymore. I need to have a fair amount of cash in case we see "stupid prices." To get stupid prices, we need to have stupid people. Right now there are a lot of stupid people...and from what I read on this board sometimes we don't have to look too far.

My new prediction on silver? Sideways until Ben decides to either destroy the financial system, or says, "I didn't really mean taper this year..." That could actually happen this week. I think there are something like 7 more Fed celebrities that are slated to open their traps and attempt to quell the markets. Whatever.

I know you many of you guys don't like trading the paper contracts, but IMO the January 2015 $30 call is an absolute no lose play. Throw a few bucks down...and walk away. I think it's down to .65 or something like that. Anyone doubt that silver will be below $30 an ounce in January 2015? I hope not.

I do like Apple, too, BTW...talk about a stock that has gotten kicked in the nuts! You know they have something like a $120B cash reserve! That's more than some nations! I don't like SFMI or GHDC, but you know that already. ;) Take care, my friends...I'll return when silver breaks $30! ;)

All the best...and I hope Pierre and the boys treat you all well!

Sphin