Silver: Short Squeeze Could Be the Big One – Reaches New Multi-Decade High – Still In Backwardation

And please keep it, although this guy certainly made his point:

Man Buys Maple Leaf Silver Coins And Throws Them Into The Ocean: Crash JP Morgan – Buy Silver! (Video)


With silver closing at a new multi-decade high, King World News today interviewed James Turk out of Spain. When asked about silver specifically Turk stated, “I always listen to what the market is telling me. The backwardation and all of the other factors that we have been talking about mean that the market is telling us the situation in silver is very bullish, regardless of what the naysayers are spouting.”

Turk continues:

We are at a new multi-decade high, silver is still in backwardation, Comex open interest has been expanding and perhaps most importantly, I refer to the insight Dan Norcini provided in the KNW Weekly Metals Wrap, namely that silver is trading above all of its important moving averages.

…..

The hard part for investors was to buy on that drawdown in price from the old high of $31.23 to just above $26.38. It shows how the accumulation program that we continue to stress can take the emotional aspects out of buying both gold and silver. It just becomes mechanical for investors to buy at the same time each month.

With the new multi-decade high in silver, the shorts find themselves on the ropes. Given my study of short squeezes in the past, we have to open our minds as to what is possible here. There is no way of predicting the future, but short squeezes usually end up with a rapid escalation in price, meaning this could be the big one.

Full article here: King World News

More on gold and silver:

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Gold:

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And don’t forget to do this (!!!)…

James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System

… or …

US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

Related information:

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