WINDERMERE, Fla. ( Stockpickr) -- Is silver setting up for a huge snapback rally?It very well could be. Silver has stabilized after its 30% crash from recent highs of just under $50 an ounce, and it looks like the CME Group is done with raising margins on the shining speculative metal. The CME hiked margins four times in order to shake the hot money out of the silver market. Mission accomplished. Now this formerly red-hot trading vehicle is off the radar of many traders on Wall Street. Selling euphoria and buying panic can be a successful strategy. The euphoria in silver was evident in the volume that came into the iShares Silver Trust ( SLV) near the top. Volume clocked in at over 180 million shares a number of times when the SLV traded between $46 and $48 a share. That volume wasn't just higher than normal; it was record-breaking by extreme amounts. Strong volume is a great technical indicator when you see it early in a trend. It's a major warning sign when you see extreme volume activity after something has run up big like the SLV did. If you look at the volume following the crash in the SLV, you'll see that downside action also picked up dramatically, with a number of trading sessions registering between 180 million and 294 million shares. This extreme volume on the way down could mean that everyone who wanted out is out. This now sets up silver for some short-covering profit-taking action. If you shorted the SLV near the top, you have some big profits that you might want to start locking in. Buyers could also easily move back into the precious metal now that the price has stabilized and volume has returned to more normal levels, which indicates all the hot money is gone. Related: 16 Breakout Stocks to Watch There are a number of ways to play a bounce in silver, including the SLV or the more-leveraged ProShares Ultra Silver ETF ( AGQ). That said, the huge drop in silver has now created an even bigger buying opportunity in the silver mining stocks. Many of these names crashed hard as silver came down so fast. They now look poised for some big snapback rallies that could make traders some fast money. If you're looking to play silver here, make sure you're watching the action in the U.S. dollar. If the dollar starts to rally again like it did recently, then a huge bounce back in silver might be put on hold. Here's a look at a number of silver mining stocks that could be poised to rebound big.