James Turk, a frequent guest of KWN, as well as the founder and president of Goldmoney, got word (confirmed by the KWN’s anonymous London trader) of a massive short squeeze potential developing. If gold and silver were to achieve prices north of $1,600 and $40, respectively, and hold above these benchmarks for a day, or two, many of the oversized number of short contracts will have to cover to cut losses from the adverse move higher—a move, said Turk, that could rival the monster rally of August through April.
Read more: http://www.beaconequity.com/spectac...ing-says-james-turk-2011-07-19/#ixzz1SavwLMBg
Read more: http://www.beaconequity.com/spectac...ing-says-james-turk-2011-07-19/#ixzz1SavwLMBg
