Short Squeeze In Silver Continues As Price Spikes Near $23 In Trading On Japan’s TOCOM!

kingworldnews.com

Trading on the Japanese TOCOM has kicked off with a bang so far in early trading as the price of silver has spiked another 6%, nearing the $23 level.

Squeeze Continues
 
July 21 (King World News) – James Turk:  “This is really quite amazing what we’re seeing here. Every time there is a dip in the price of silver, some large entities are there to buy the dip.  You can sense the panic by the shorts who are attempting to cover but are being met by a tidal wave of buying by the momentum players.  These momentum players are new to the market.  Meaning, this is fresh buying from new money that is now entering the silver market…

A Big Mistake
 
There has been a small group of individuals in the gold and silver community that made the mistake of trying to time the bull market, having abandoned their long positions at much lower levels.

Eric, something like 95% of the players in the silver market today were not around during the bull market of the 1970s.  So they have never really seen how silver can keep climbing higher for days on end while new money continues pressing prices even higher and shorts get caught in the melt-up.

Early Days In This Bull Market
 
For those that made the mistake of losing their positions in this bull market, let me just say this: they should simply begin to dollar cost average back into their positions.  And that applies to both the metals and the shares.  The fact of the matter is that silver remains grossly undervalued, despite the recent rally.  And the mining shares are even more undervalued than silver at this point.  What I am saying is that these are still very early days in this opening leg of what promises to be a major bull market in the precious metals and mining stocks.”
 
Last Time Silver Did This Was 10 Years Ago!