Was Silver's April Parabolic Rise a Short Squeeze?

When silver collapsed from nearly $50 down to $33.05 in less than 2 weeks, the trolls and pundits came out of the woodwork claiming that silver had been in a speculative mania, and the bubble had now popped.
If silver had been in a speculative mania, open interest (OI) and large spec net positions would have been out of sight.
Was silver's April ramp from $30 to $50 in fact actually a short squeeze, rather than a speculative mania?


Wall St. Cheat Sheet has released (on Yahoo of all places) a report demonstrating that April's manic rise in silver was in fact a short squeeze. 
Check out silver's declining open interest (OI) during the price rise.  Skyrocketing prices with declining OI? Doesn't look like a speculative mania to us!

Looks like The Morgue and friends were panicking in late April.  Good thing their boys at the CME came through with 5 successive margin hikes to save their hides!

Click here for Wall St. Cheat Sheet's analysis: