After the repeated breakouts earlier in gold and silver earlier in the day, it seems as though the shorts have struck back, driving silver back below its 200 MA (17.10) as well as gold back down through round number 1300.
I suspect we will see a big increase in GC and SI open interest tonight.
Both of these levels are logical places for the shorts to come in – it will be really interesting to see just how much new open interest it took to try and stuff the breakout.
Yep, I was just about to post that, Dave. You knew that was coming, though. Stocks are off to the races, miners have completely reversed, as have PMs, and we're back to normal once again.