Wednesday, 20 April 2011

People are Afraid to add new Silver Shorts

When asked about silver specifically Turk replied, 

“I don’t see the shorts panicking yet.  I think we are getting to the stage though where people are afraid to add new shorts into the markets simply because of what’s been happening with the price.  So I’m still looking for my $50 target and when we were speaking on Monday I said it could happen in a couple of weeks but we’ve gone up a couple of bucks in just the last couple of days.

So yeah, you are going to get that short covering and you are going to get the panic and it’s going to take things higher.” 

Read the full interview here:

- James Turk - Via King World News Interview