ted butler says at current levels the silver market is vulnerable to a short term correction, but could also explode.

On the previous week's gold and silver price action, I could hardly do better than to quote Ted Butler's comments on Thursday and Friday's trading action in a note to clients on Saturday morning... "We got a taste of volatility on Thursday when gold and silver fell sharply from fresh highs made earlier in the day. I know this price action rattled more than a few people... We start reading too much into short-term price volatility, especially when prices have moved as sharply as they have over the past six weeks. Particularly in silver, given its past history of sudden and manipulated price drops, it's natural to want to sidestep any future sickening price smashes. This leads many to sell at the first sign of a reversal, like we experienced on Thursday. Please understand me... I don't know the very short term direction of silver prices. But neither do you, or anyone else. Maybe we sell off, maybe we explode in price."

http://www.caseyresearch.com/gsd/edition/gold-get-it-while-you-can