From Ed Steer in his Gold and Silver Daily:
"If you needed more proof that silver is at the centre of the known universe for JPMorgan et al, it was provided for you yesterday.I just don't know how much more obvious it has to get than that.
"Options and futures expiry for the May delivery month in silver is upon us...as is the FOMC meeting over the next couple of days...so I'd guess that one or more of these events brought on the engineered sell-off in silver yesterday.
"Is it over? Beats me. Can 'da boyz' take the price lower from here? Sure, but how many more spec longs are they going to be able to get to sell...or go short? There is a limit...and the law of diminishing returns sets in quickly when prices get this close to the bottom of the barrel.
"But, as Ted Butler said on the phone yesterday, you can never underestimate the criminality of the sociopaths that are running this price rigging scam...and I heartily agree with that assessment. It will be over when it's over...and we won't know when that is until after the fact. Yesterday's low at 1:25 p.m. in New York sure looked like it to me...but as I've said on numerous occasions in the past, I wouldn't bet the ranch on it..."