In the rush of time, we forget the past with great abandon. In March of 1999, the Nasdaq composite was at 2300, One year later, the Nasdaq peaked at just over 5000, then proceeded to decline by over 50% over the twelve months. By March of 2001, the Nasdaq closed at below 2000.
It took one year for the Nasdaq to complete it's parabolic ascent, and one year to fall spectacularly. The chart below compares the daily closing prices of the iShares Silver Trust (SLV) and the Nasdaq composite index over the time frame of one year prior to and after their respective peaks. This, of course, assumes that silver did actually peak on April 28th at just under $50 per ounce.
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