See the excerpts below from Steers daily commentary talking about the manipulation of silver (gold is also handled similarily). Makes you even wonder if its worth our while to try to make any $$$ in this space when it all seems to be contrived by a few biggies.

"Never, in my 35 years of market observation, have I witnessed a more blatant manipulation. Make no mistake, this deliberate sell-off [in silver] is the handiwork of JPMorgan. This sell-off would not be possible were it not for their large concentrated short position. More upsetting is the apparent complicity of the CFTC in allowing the illegal manipulation of the silver market. The CFTC's probable involvement undermines the very concept of market integrity. - Ted Butler, 26 January 2010

Well, it appears that JPMorgan et al are serious this time. Silver's takedown was huge... and deliberate. The low yesterday was $16.32 spot... and the 200-day moving average is down at $15.70. That's only 62 cents away... a chip shot at the rate that these guys are going. Gold's 200-day moving average is about $90 below yesterday's close. If these are the targets that the U.S. bullion banks have in mind... well, it could get ugly. Here's the 3-year silver chart."