$42 Silver? Blink And You Missed It

In what seems like ages ago, yesterday (Thursday) morning silver was trading near $40.50. We called for silver to make a run at $42 and make a new high by the end of the day if the cartel did not immediately initiate a smash-down. The $42 level was breached later that afternoon for the 1st time in 31 years.
The $42 did not prove much of a novelty- as only 25 hours later silver broke the $43 mark, closing access market trading for the week at a fresh 31 year high of $31.05.
Next week looks to see silver make a serious challenge at the $45 level, where we expect to find initial resistance. Physical supplies continue to tighten for silver, which is astonishing considering the rate of increase silver has seen in 2011.