Just wanted to throw my $.02 in here. All the reading and listening I do screams that the supply/demand equation is way out of whack. Premiums, backwardation, etc. Also the COT is indicating that the big bullion banks have been starting to cover their shorts over the past several weeks. Margin requirements on the CME are upped twice in one week and one of the biggest futures dealers (MF Global) increased their margin 175%! A new futures market in Asia is opening for gold on 5/15, (I don't think any silver market has been announced yet, but it will be coming) These are the facts. Now the rumors. Chinese, Russian big money is "cornering" the silver market. JPM is way offsides in their short. So what seems so obvious to me is Friday someone who knew what was coming started to off some stocks. And tonight and probably for a while we will have the mother of all corrections orchestrated by everyone who is underwater to get onside before this market goes manic. Also silver is hit more that AU because it's both easier and it directs any possible PM buys into gold and away from AG. The recent newcomers will get washed out to sea, and when things are settled out we will witness the mother of all manic markets that will make us all (those who are not yet, LOL!) very rich.

Good luck to all, we're in for some heavy weather.