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Tuesday, April 26, 2011

What happened to silver today?

I got a call a couple weeks ago straight out of Boiler Room from some precious metals dealer looking to sell me Palladium.  Sorry to burst your "bubble" (pun intended!), I told him, but even if I did want to buy precious metals near all time highs I'd just use my broker instead of some telemarketer.

Though I was somewhat relieved he wouldn't be wasting any more of my time after he hung up on me, I also regretted opening so strongly and foregoing the opportunity for an entertaining debate.

You often see things like that before a top.  I'm not sure what happened to silver today, other than its rise has been relentless and parabolic.  There's nothing but air underneath it.