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[Islander]

SLV Margin up again today. The leverage is forcing this increase. There are two black crows today, if tomorrow produces another, we can expect a quick attempt to run up to the high, probably on lower volume. This is a traders dream, or a mistake if you do not control risk. Todays market did considerable damage to internals. Concerned that something more formidable is possible which is not evident to me at least. Suspect a much larger correction might be brewing. Looks like bonds might be the trade of May. Best, Islander.