Thursday, October 28, 2010

Silver guru Morgan: A selloff is imminent...

From an interview with Hard Assets Investor:

... Crigger: Has the rise in silver prices been what's made people sit up and take notice? Or is something else going on?

Morgan: It comes in spurts. I got a lot of interest from "big money" at the bottom of the market, and now here we are again at the top of the market, and I'm getting the same types of inquiries from the same types of entities.

Or, well, a relative top. I mean, obviously it's a new high; we can't dispute that. But whether or not we're going to get a correction? I believe we will. I believe we're overdone temporarily. I believe that we're going to see some profit-taking.

Crigger: That profit-taking—will we see it in the next couple weeks? The next couple months? How much farther does this rally have to go?

Morgan: Well, on a short-term basis...

Read full article...

More on silver:

Sales of silver coins are soaring

What you need to know about buying silver today

Jim Rogers: Now is the time to buy silver and natural gas


View the original article here

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