Silver: It's that BOHICA* moment

Trade and Value Report wins the prize for today's best blog headline:

"China Sells All Its Silver to Pay for Olympics"

(click the title for enlightenment)

Meanwhile, silver has decided to do this.

Ouch. So be it. It was trading at $12.50/oz overnight, so I spose we should be happy....y'know...like ecstatic, dude. A darned pity that the great news announced by FVI.v yesterday (and its 2q08 as well....well worth a read), and the 5c per share revenues at Minera Andes (MAI.to) and any other news from any other PM miner of any shape or sort is getting blown away by the droopy droop in silver (and gold under $800 too, of course).

Copper dropped back to 3.36 yesterday (I'm kinda happy about making $3.50 my trigger point......no whipsaw here), and the rest of the base metals are fiddling around yesterday's levels. The real story is silver and gold. Cue conspiracy theories from your fave rave tinfoilhat websites.

*BOHICA = Bend Over Here It Comes Again