I think we could see a slight retrace for silver but I would not expect a moderate retrace until somewhere in the mid-20's range. There really is not much Resistance between $17.50 and the mid 20's and as someone mentioned earlier, these spikes may be partially attributed to some short covering.

Last week I bought some silver from our friends at Scotia and thought about buying the silver certificates instead for about a nano second. They do certainly make the certificates attractive since there is no bar charge, no delivery or storage concerns, and resale is much easier. But how could any self-respecting gold-bug own certificates instead of the real deal, especially since articles like those from Ted Butler reinforce the notoin that these certificates are not fully backed.

BTW, I don't plan on selling any of my bullion until silver exceeds $100, which I strongly believe will occur sometime in the next 3 to 5 years.