the cause of the silver price surge on friday

Eric Sprott just announced an offering for his silver trust to the tune of $300 million US dollars. This will equate to roughly 10 million ounces of physical silver having to be found and delivered. This news alone should propel silver higher. The fact that a bullish chart pattern was formed and then resolved properly, higher, is even better.

Normally this would be stellar news that would have me in a trading position in silver but with the bankruptcy of Kodak (it’s no Kodak moment) they disclosed they have about $300 million worth of physical silver.


http://sprottphysicalsilvertrust.com/News_Details.aspx?cid=12

http://www.dailyherald.com/article/20120119/business/701199886/