In just 9 trading days upon breaking above the $29 mark, silver price has rocketed almost $4.00 per ounce, a very gigantic-size movement in silver price, and can only be an indication that the short sellers are panicking and desperately need to cover or be liquidated.
In the last two days alone, Silver Price rallied over $1.00 per ounce each day, an indication that the speed or pace or momentum of this breakout is in acceleration mode.
There were very few profit-taking activities as silver close the day near the high, another indication of the intensity of the short-squeeze.
At closed on Friday 18th February 2011, CME announced yet another increase in margin requirement for gold and silver futures contract, another desperate attempt in suppressing the price of gold and silver. Should the impact be only temporary, the stage will be set for a parabolic price rise as "JP Morgan's Silver Price Suppression Scheme" comes unraveled.
