James Turk - Silver $30 In Less Than 18 Days

Eric King

October 28, 2010

With gold and silver strong today, King World News interviewed James Turk out of London. When asked about silver specifically Turk commented, “I like this flag pattern because when you breakout to the upside you reach your target in half the time it takes the flagpole to form. The flagpole formed over 36 trading days, so the next leg up to $30 will be over in less than 18 trading days.”

Turk continues:

“The other thing Eric is that this time frame is not too far off from the three to four weeks window that I mentioned would take place when silver pierced $21.

We have been saying it is different this time because the ongoing accumulators of physical metal are right underneath the market. This aggressive buying is one of the key reasons why prices are poised to explode.

What I expect to see is a strong close today, and follow through tomorrow. That scenario requires more short covering tomorrow which is likely to happen anyway going into the weekend.

Even though silver is continuing to lead, gold will continue higher as well. Gold will eventually take out the previous high of $1,400. $1,400

Re: Lawsuits!!! - 2 of them!!! - MIDAS tonight

in response to Lawsuits!!! - 2 of them!!! by mike97

posted on Oct 28, 10 06:09PM Use the IP Check tool [?]

Bill Murphy is ecstatic.

"Think about it … JP Morgan and HSBC have been hit with one-two punches within days. You have a government organization talking about FRAUD and then you have two heavy hitter law firms suing Morgan and HSBC for the same fraud. This is going to make it very difficult for both of the judge to dismiss the lawsuits as frivolous.

GATA has some dessert for you. The Bart Chilton charges and the lawsuit are only JACKS FOR OPENERS. There is more to surface in the months ahead which will send The Gold Cartel forces reeling. Stay tuned!

As far as the silver market is concerned, this news is SO BULLISH for the price, and at a minimum, as Adrian likes to say, you now have a free silver trade. If this weeks’ news comes to no avail, it is neutral for the price. If it plays out anything close to what GATA believes is likely to come to pass, it is EXPLOSIVE!

Why:

We are all over this; however the combination of these dramatic revelations is just beginning to percolate in the investment world. This can take weeks to sink in. The BIG MONEY is going to go after silver as sharks would, smelling blood in the water. Already, we know that big money has been moving into the physical market, as reported here for months. What do you think they, and others, will do knowing JP Morgan’s legal and financial vulnerability due to their illegal trading activities? How about when that BIG MONEY realizes JP Morgan Chase is short some 30,000 contracts on the Comex alone? There is no telling what the price of silver could do on the upside on any given day in the weeks ahead.

Congrats and a big thanks to Andrew Maguire and Adrian Douglas for all they have done for GATA and for those who believe in free and fair markets. This will be an epic financial market story of a lifetime when all is said and done."

Excerpts via Zero Hedge…

The Tipping Point has Arrived… by Mike Krieger of KAM LP

I believe we have finally breached the tipping point in the socio-political landscape of the United States of America. There will be no going back from here. Everyone on all levels of society including the elites must make a choice. Will you stand for real reform and an end of the feudalistic rule of the oligarchs and their paid-off puppets that line the streets of Washington D.C., or will you keep your mouth shut and play the old and dying game in the context of a completely different cultural environment?...

…the powerful institutions that dominate and rob us will continue to fight for survival but the wind is already blowing in a different direction and cannot be reversed. The smart elites are starting to see this and are hedging their bets. The dumb or stubborn ones may want to start looking at countries with non-extradition treaties or start blowing the whistle on someone above them and fast. The window of opportunity to make the choice is closely quickly.

Full article at:

http://www.zerohedge.com/article/guest-post-tipping-point-has-arrived