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Big Down Day For Silver

|Includes: iShares Silver Trust ETF (SLV)

SLV, the ISHARES silver ETF finished the afternoon down 8.72%, in heavy trading with volume nearly 3 times above the normal level. This comes after SLV finished the last few trading days being the most heavily traded ETF, overtaking even SPY, the index fund which tracks the S+P 500.

For a niche fund, this is quite an accomplishment. It is also indicative of an investment which has long ago passed the phase which moved it into the supremely fashionable and much talked about asset it is today.

A large number of intraday traders are among those piling in to the ETF, indicating high speculation. The trading volume seen among this portion of investors is not shared by institutional investors, a sign the "smart money" is not following along.

Time will tell if this is the beginning of the end for the exponential growth seen in silver. There does seem to be a growing dissention within the investment community lately regarding Silver.