Maybe just a pull back, but it will take a lot to get back to $7.80. http://www.kitco.com/charts/livesilver.html
I'm glad I sold a few weeks ago when I did. I didn't get anywhere near spot, but I was able to search through $500 face value of silver coins, keep $50 in coins for myself and sell the other $450 FV for $200 more than I paid for the whole lot. Total turnaround time was about 3 weeks, so it worked out ok for me. Especially now that silver is back at $7.25/oz
"Major fall?" We're talking about 5% here. In stocks, a bear market is considered a minimum 20% drop. Silver is far more volitile than the stock market and would have to move even more for it to be worth taking notice. The Cave Troll pulled off a nice trading transaction. Hopefully there will be a repeat opportunity for you.
