Silver is Sliding

Might be jumping the gun, but I started shorting silver last week.  I rarely take on pure contrarian positions but this one was hard to pass up.  After the 6th amateur trader told me that they were never going to lose money in silver and that they were waiting for a price above $50 to sell, I began shorting.  So far it has worked, but you never know with something like this that is parabolically rising. 

I believe that the big boys have unloaded most of their holdings (see volume above) and the day traders and retailers are the main ones still playing in silver for the time being.  Day traders will be fine for the most part, but retailers can easily get hurt here.  Just my opinion and I've certainly been wrong plenty of times. 

Have a great week.

TLT