Large Sarge
13th September 2012, 12:00 PM
http://video.cnbc.com/gallery/?video=3000115337&play=1
Ed Steer's Gold & Silver Daily
Is a short squeeze in silver imminent?
Ed,
I read your Gold & Silver Daily letter every day.
I heard this interview with CME trader Michael Gurka on CNBC this morning. Some interesting tidbits on silver. Start listening around the 2:55 mark. Gurka mentions the "stealth move" in silver - the current move from $26 to $34. Kernen asks him why the move up - QE? Gurka comes back with a "short squeeze up to a $100" comment.
This might be the first public mainstream media hint that JPMorgan is in deep trouble with its massive short silver position. Some of the guys I read believe JPM short position is fix'n to blow, which would make for a massive move up as JPM is forced to cover.
Ed Steer's Gold & Silver Daily
Is a short squeeze in silver imminent?
Ed,
I read your Gold & Silver Daily letter every day.
I heard this interview with CME trader Michael Gurka on CNBC this morning. Some interesting tidbits on silver. Start listening around the 2:55 mark. Gurka mentions the "stealth move" in silver - the current move from $26 to $34. Kernen asks him why the move up - QE? Gurka comes back with a "short squeeze up to a $100" comment.
This might be the first public mainstream media hint that JPMorgan is in deep trouble with its massive short silver position. Some of the guys I read believe JPM short position is fix'n to blow, which would make for a massive move up as JPM is forced to cover.