Gold and Silver turned up sharply on Thursday, and although I am skeptical, we’ll go with the flow as always.  (Our straddle in GDXJ gives us upside exposure, although premium erosion will be a concern going forward.)  I am about to head over to the CMRE conference and will report on it later.  Also trying to get the hang of East Coast time, adjusting to the fact that it is late afternoon and the markets are still bubbling away. ______ OVERNIGHT UPDATE (1:46 a.m. EDT):  A more-than-300-point drop in the Dow is implied by Friday’s tout for the E-Mini S&Ps. I’ve included a chart so that you can judge for yourself the seriousness of the selling.