Silver Lost 25% in 2 days

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Hey, I just thought I would inform the Silver Bears - no one is really surprised. . .Silver has dropped 25% in 2 days, a single day fall which was the worst in history.

I sold all of mine at $41.00/oz (about 3 mos. ago during the first crash) and am delighted I am out of it today of course. I did have some exposure to a silver miner though that's taken a pounding. Still, they should still be able to profit anywhere above $20.00/oz so I am holding.

Luckily also, my portfolio was sitting in 50% cash with this other strong position.

So, the Silver Bears were validated today!

[disneysteve]

Sorry to say but I'll be quite pleased when this whole gold/silver bubble finally bursts. I'm so tired of the commercials and the "we buy gold" shops opening in every strip center and the message board posts from the people who think the price can only go up. It will be quite satisfying to have reality enter back into the picture.

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I have opined before that even as a silver bug, I thought it was overplayed.

I admit I can't resist the precious metal market a bit. . .I'll probably continue to do the majority of my speculation here, either up or down.

The silver market is even worse than the gold market. It has a way of just making you sour on the metal forever when it corrects. I won't be surprised if it overcorrects by a lot and then just stays down, not budging.

[disneysteve]

I admit I can't resist the precious metal market a bit

And that's perfectly fine. As I've said many times, I own OPGSX, but it is a tiny part of our portfolio.

The silver market is even worse than the gold market.

Which is kind of odd since silver actually has many more practical and industrial applications than gold.

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It's smaller, so more volatile.

Someone dumps. . .it reverberates through the market.

[disneysteve]

It's smaller, so more volatile.

Someone dumps. . .it reverberates through the market.

That makes sense.