Guy Adami Says Silver Has More Room To Run

This is a pretty interesting debate on the silver market that aired Thursday April 21st on Fast Money.  They start discussing silver around the 11 minute market in the clip.  Guy Adami thinks silver is going to have a big blowoff top where it runs up $7 or $8 in a 24-hour period.  He thinks a lot of traders have been fading silver instead of buying it which means their short covering could help push the price even higher.  Adami knows how small the silver market is and I think what he is saying is it doesn’t take a lot of new money, compared to how much total money is sloshing around in the financial markets, to have a major impact on the silver market.  I guarantee that silver is on the radar screen of a lot more professional traders and hedge funds too given its recent price performance.

Leave a Reply

Your email address will not be published. Required fields are marked *