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Trying to pick a bottom after such a parabolic blowoff top reversal pattern is akin to catching a falling knife. Spot silver plunged some 30% in a matter of days (ETFs even more). After such manic speculation the inevitable crash will be followed by a corrective rally that is sure to lure the silver bulls back for more (the old greed v fear dilemma).

But let's not forget that just 30 months ago silver was $8/oz. When fear hits markets and the risk trade unwinds, all rationale is completely overwhelmed by emotion (ie. panic selling). Fundamentals account for little when demand evaporates as everyone rushes for the exit.