A short note to my fellow silver traders at the Tent. I have detected a change of behavior in silver and thought you should know that it looks ready to fall. We will be going down to 75 dollars give or take a dollar before hitting bottom. So this is a heads up as the decline has already begun this morning. By the way, try not to expect too much out of silver until early July when it will finally be ready to resume its move up.

For now we will just have to bide our time as the chart is still digesting the remains of that massive parabolic climb that ended in January. There is no chart today. I am sorry but I am not able to show you my work as its not for public consumption. For now, all you need to know is silver is going to drop 12 dollars from its current 87 perch and splash down on 75 plus/minus according to my charting. The drop may be dramatic which is pretty much normal for silver.

If silver rises instead (low probability) then this memo can be discarded.