Look Out Below! (Silver Update)

For context, please see "Silver Update, DJIA on an Inflation-Adjusted Basis is Nowhere Near All-Time Highs" and "CME Cuts Commodity Margins".

Today we update the silver chart:

Res ipsa loquitur.  [Latin, legal term meaning "the thing speaks for itself"]


Here's an updated chart of ZSL, the ProShares UltraShort Silver ETF:

Precious metals bulls often say that "most people don't yet own precious metals".  As shown by this graphic published a few days ago, people that actually have money to invest actually already own plenty of precious metals:

Perhaps we should've written "own plenty for now".  If silver falls much further, another cascade could occur. 

Look out below!

 

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