Took a long on the SIK11 (Silver May 2011) - actually, I bought the miniSilver which trades as YI on NYSELIFFE as opposed to the SI that trades on the COMEX - on Friday afternoon at 35.03. I think we will make a new high. I will look to exit my position as we enter an overbought position in the coming weeks.... likely in the 37+ range.

I think most of us understand the fundemental value proposition, so here is what I see on the technical: