The last few days have been a bit gut wrenching but hopefully our faith in the gold bull and SGR is not missplaced.

I couldn't agree more Arbee,

I posted a piece from Dan Norcini (trader Dan) on Monday . He gave some fore warning of this during his weekly metals wrap at KWN.

Small specs - be extremely careful in this market right now. There is an attempt going on here to rid the general public of its positions leaving only the big boys to play.

http://agoracom.com/ir/SanGold/forums/discussion/topics/482446-is-sprott-leading-the-fund-sheep/messages/1549748#message

Then this from Ben Davies (the rising star) on Monday

We believe that the market has been exhibiting the precursory signatures of power law behaviour, and that the internet power law of participation phenomena has produced a point of criticality whereby we have seen the top in silver for this half of the year. We believe a real shake out is imminent, in the order of $15 dollars over 3 to 5 days.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/2_Ben_Davies_-_Silver_Criticality,_Why_Silver_Might_Crash.html

Now Ben Davies is saying this. Check out the interview with Ben Davies at KWN it puts a different perspective on what has transpired.

Ben Davies called for a 3 to 5 day $15 decline in silver and that is exactly what happened. I wanted to catch up with the CEO of Hinde Capital to get his thoughts on where we are now in the silver market. When asked if silver is bottoming Davies replied, “As a firm we have covered all of our hedges on silver and we have started to accumulate physical silver. Let me add that this is the swiftest 30+% decline in this bull market. If you are a cash buyer of physical silver then you should now be accumulating silver. There is always a danger in catching a falling knife, but you have to remember that silver has intrinsic value.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/5_Ben_Davies_-_We_Are_Now_Buyers_of_Physical_Silver.html