SILVER

Despite starting out positive yesterday, March silver finished very poorly, and that action seemed to signal fear from the bulls that the EU might disappoint the trade once again. despite a strong US equity market track, a weaker dollar and ongoing faith that the EU would put something positive together by this Thursday or Friday, it appeared as if the longs had lost their resolve. As in the gold market, the silver trade won't see much in the way of first-tier economic data from the US today, but the market might get some support if the weekly private chain store sales readings provide a fresh positive on the US economy. Comex Silver Stocks were 108.431 million ounces, up 260,374. Initial downside targeting this morning is seen at $31.12 in the March silver contract and then again down at $30.74 if the trade begins to toss around the idea of a failure by the EU later this week.