As of 8:00am EDT, silver is $14.30.

A breath of fresh air after the weeks of pounding in the new york paper market. The acid test will of course be the crimex trading session and the "access market" action later.

My model is saying we are long overdue for a steepening of the (rising) curve in gold price. Silver is in a pattern of following the up/down direction of gold and this portends a possible nice finish to the summer. We are still a bit away from better seasonals for the metals however the fundamentals are so strong it is likely that they could overcome seasonals.

My gut tells me that ECU may start to catch a bid. If all goes well we could ECU outperform the indexes for the next few months. Or it may be that jalepeno nacho I had late last night.