ProShares Ultra Silver (AGQ)

[Porgie Tirebiter]

If you look at silver over the last 20 years, a strong case can be made that the bubble started in 2004, and that silver should actually be less than $10.

But even if make the case that a normal silver market began in 2004, and you take the trend for that "normal" market, silver is still out of whack at any price above $20.

The real bubble began 10 months ago, and while silver may bounce on the way down, it's going back to $20 or less in the not too distant future.

It was a classic bubble.