The calamity that tore through the commodity and currency markets Thursday is not likely to be a one-day event, investment professionals say.

"Markets don't just kick back immediately," independent trader Dan Dicker tells the Breakout crew, "especially when there's massive margin selling."

He likens the commodities market to a seven-layer cake of risk and money, pointing out that the hottest, most flighty money is what's on the move right now. Even my co-host is channeling his inner caveman and lobbing limbic system analysis into our assessment.

The brutal selloff in silver continued Thursday, bringing its four-day decline to 25%.

Thanks to rising margin requirements at the CME, silver was already in retreat (as Breakout has covered earlier) when The Wall Street Journal delivered a body blow Wednesday with its report about precious metals selling by George Soros, John Burbank and other big-time money managers.

Of course, there's two sides to every trade, and WSJ reporter Greg Zuckerman reports on the "showdown between guys like Burbank and Soros who are much more bearish, and guys like John Paulson who are holding on [to metals] and own a lot of it."