Silver received the usual treatment on the COMEX open this morning. A surge on the COMEX open challenging the $41 level induced quick action by the cartel, knocking silver from $40.96 to $40.26.It appears that the t1/2 of the latest silver smash is roughly 90 minutes, as silver has already retraced almost all of its losses in the smash, with a last quote of $40.83!
As we have said repeatedly, if silver can take out $41 convincingly, silver should challenge $42-$43 in a flash, as momentum traders pile back in to the shiny gray metal.