SLV contradictions?

Contradictions…Remember May when everyone was buying Silver? In May you couldn’t find an entry.The volume was elevated and today SLV bounced nearly 6% to 37, $GLD only 1% to 154, the question is, are we seeing a replay of the May run? We saw this morning some wishful thinking for QE3, which has boosted stocks. But investors are running again for $SLV, quickly. The Idea is, if $SLV holds 36.25 through say Monday. I’d look at getting bullish on SLV. Probably with an Aug/Oct calendar spread at 40. It would cost $1.10 today. I’m going to watch if we test the 36.25 levels over the next few days. There’s a few still trapped in the May runup and they’ll be selling today.