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Silver: Are Gain Sustainable or Irrationally Exuberant

Silver soared to an all-time high Thursday nearly hitting $50 an ounce before paring some gains.

The level eclipses the white metal’s peak price hit when the Hunt brothers sought to corner the silver market three decades ago.

Are the gains sustainable or are they irrationally exuberant?

Matt Hougan of IndexUniverse tells Fast Money he sees signs that suggest silver is a bubble - and the bubble is growing very fragile. "The bubble is getting pretty advanced and its close to coming down," he says.

Get all the details. Watch the video now!


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Trader disclosure: On April 28, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Najarian Owns (AAPL); Najarian Owns (AKAM); Najarian owns (C); Najarian owns (CVS); Najarian own (MSFT); Najarian owns (VLO); Najarian owns (XLF); Terranova owns ( TCK); Terranova owns (SLV); Terranova owns (NFLX); Terranova owns (APA); Terranova owns (OXY); Terranova owns (FCX); Terranova owns (BAX); Terranova owns (IBM); Terranova owns (HOC); Terranova owns (UPL); Terranova owns (AKAM); Terranova owns (V); Terranova owns (CVI); Terranova owns (BX); Weiss owns (DE); Weiss owns (DE) puts; Weiss owns (AKAM); Weiss owns (QCOM); Weiss owns (VZ); Weiss owns (MSFT); Weiss owns (UUP); Weiss owns (DZZ); Weiss owns (TBT); Weiss owns (GDX); Weiss owns (JPM); Weiss owns (COP); Weiss owns (DVN)

For Matt Hougan
Howgan owns (ZSL)

For Joe Terranova
Terranova is long (AAPL) April 350 puts
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For Les Funtleyder
Miller Tabak + Co., LLC is a registered market maker in the following securities: No companies mentioned in this report. The analyst does not have equity positions in any of the stocks mentioned. No individual at Miller Tabak + Co., LLC holds a position on the board of directors of a covered company, nor does an individual at a covered company do so at Miller Tabak + Co., LLC. Miller Tabak + Co., LLC does not own one percent or more of the outstanding shares of the company discussed in this report.

CNBC.com with wires.