There are so many trend following and momentum strategies out there that when the fire alarm is rung they cannot all fit out the door at the same time. That is why we have seen a 30% crash in silver and and severe declines in other commodities.
Momentum strategies have worked in the past as investors tend to herd. However, when any strategy becomes too popular it tends to blow up.
I have picked up some silver looking for a dead cat bounce. Even if the cat falls further I should be able to get out at a profit once it bounces as it has fallen off a very high floor. Have a good night.