Question: Dear David,  As I type this silver has blown by 21 dollars with no end in sight. I know you have been asked this a thousand times but is going on here? Is this the unwinding of the bullion banks naked shorting? Is there a big time player buying lots of silver. I am waiting to go long silver on the next up leg but it doesn't look like it will ever happen. I know it will. Something seems different this time around. I absolutely love your newsletter. I have found out that you are the most level headed of the bunch and I appreciate the fact that you give your opinions and expertise to the general public.
Many thanks!    ~ Jeff

Answer: Jeff, Appreciate being called level headed etc.

I will not give you any rumors about what is going on with silver. Some of what you suggest may be true but personally I cannot verify any of what you write. At least not --yet! Some statements by others I have verified as "questionable" at best.

There is a part of the puzzle that I hope to uncover on my Toronto trip-- Regardless, I will report all I know as fact and provide my opinion in the next issue.

As a Basic Plus Trading & Premium member you know that I called the top to come in around September 21 or 22 on a short term basis. It is way too early to know if my call is correct or not and I did let all BP subscribers know that I was only selling my trading positions and HOLDING tightly to my core positions.

As always this is only part of my holding as I am keeping my core position of 75% intact. The market has humbled me in the past.

David Morgan