My Blog
James Turk - Upside Explosion, The Short Squeeze Is On
With gold and silver hitting new highs, King World News interviewed James Turk this time from Luxembourg. When asked about the dip today Turk said, “Any way you look at it today was a positive day. The metals were sold off in early trading with gold being down over $15 an ounce and silver off over 40 cents. Not only did they come back, but they came back from the dip stronger than the previous snapbacks.”
September 28, 2010
James Turk:
“That’s very positive because it really shows the momentum is starting to build. In other words, the big money is coming off of the sidelines which is what we expected because it is obvious now that the upside explosion has begun.”
“The gold shares, the XAU and the HUI have not confirmed as of yet by making new highs, and that is keeping a lot of people out of this market. I expect the gold indexes to hit new highs this week.”
“The short squeeze is on and the bears are feeling the pressure. As the price continues to rise, then we will eventually see the shorts capitulate. Hang on with strong hands, accept the volatility, because we are going a lot higher.”
James and I wanted to chronicle this significant upside move from the beginning, so that investors globally would have an idea ahead of time on just how strong this advance was going to be. We also wanted King World News fans to “be right and sit tight.”
Eric King
