James Turk – “The Shorts Are Choosing To Fight” Despite The Fact That “Silver Is The Cheapest Asset On The Planet”
Today James Turk told King World News that the shorts are choosing to fight despite the fact that silver is the cheapest asset on the planet.
“The Advance May Slow”
James Turk: “There was a flurry of short covering in silver last week, Eric, pretty much on time and as I expected. Gold, as well, saw some short covering, but for both precious metals it was a lot less than I thought would happen…
Judging from the increase in Comex open interest for both gold and silver, it looks like the shorts are choosing to fight the upward price trend and the buying pressure in the precious metals, rather than start covering. The result is that the advance from here may be somewhat slowed. But I do not expect it to be reversed.
Despite the stocks selling off silver prices are holding up well.
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