Thursday, May 5, 2011

Long John Silver becomes short John Silver

"What started off as a sharp correction in silver is quickly turning into a sell-off of historic proportions. With a four-day decline of more than 24%- 25%, the sell off in silver is now the seventh most severe in the history of the metal's futures contract. If we were to eliminate periods that overlapped with each other, the current sell off ranks as the fifth worst of all time," Bespoke Investment Group.

If you missed it on the way up, perhaps you could have made it on the way down. The treasure hunt is over.

But hey, there always the dollar to buy then. 

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