Silver’s chart is bullishly out-of-whack with gold’s at the moment, having tripped a very promising mechanical buy signal last week with a sharp drop to x=25.12.  Gold looks like it has farther to fall, but I doubt it will proceed far enough to cause May Silver to stop out this trade with a dip below 21.99.  Even so, I am not recommending a conventional limit bid at x, since the implied entry risk would be more than $15,000 per contract. We’ll paper-trade until the discrepancy between the two metals is resolved, presumably in a way that is bullish for both. ______ UPDATE (Mar 9, 4:36 p.m. EST): The paper trade is off and running. I’ll be interested to see whether it gets to p=28.27, where we would ordinarily exit half of the position. Maximum upside for this ancient pattern is 34.55, a target that has been in play theoretically since December 16.