ted butler was interviewed by eric king this weekend, and is bearish on silver in the short term. he expects the decline in silver to continue as the bullion banks win yet another round, but adds that this selloff would set up a major buying opportunity. the two key factors he cites are tightness in the physical market and naked shorting of the silver etf.

it turns out that 4.2 million ounces were recently deposited in the silver etf to cover short selling during september and october, and that it took this long (1-2 months) just to come up with a relatively small amount of bullion.

http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2009/10/30_Ted_Butler_on_the_Metals_Market.html