Musings: Late June Silver Prices

After suffering through repeated beat-downs over the last few days, silver prices seem to be cheap comparing to what it was at the end of April.  However, with the current US and world economic troubles, will it re-visit previous lows, considering its industrial metal role?

The answer is: it is possible, if the intersection points in the chart below mean something.  These are the interesting dates and projected prices:

• Point A: June 17th.  June equity options expiration day.  Silver price looks to be around $33.
• Point B: June 30th.  July futures first notice day.  Silver price looks to be around $30.

Of course, it would be nice if these projections turn out not to be true.  I would love to see silver turning around and beating $40.  My positions would be very happy if that is the case :-)  However, since I own some SLV strangle options, I am covered either way.