In what can be only described as a total gutting of all silver shorts everywhere, including those with infinite Fed funded balance sheets (wink wink Blythe), all one can do is commiserate.
With silver hitting $35.55 intraday, not even a last ditch attempt to spread the ridiculous Chavez rumor once more (this time the two dictators will really get peace ironed out, we promise) will prevent a battery of margin calls from forcing all the silver market timers to liquidate assets to keep their primer brokers happy.
That’s ok: all those market timer will sooner, or much, much later, get the top right.
Submitted by Tyler Durden on 03/04/2011 15:56 -0500
Source: ZeroHedge