Re: Stunning Plunge in COMEX Commercial Silver Net Short Positions
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Message: Stunning Plunge in COMEX Commercial Silver Net Short Positions
I can add to that also, from the midas tonight, commercials are J.P.Morgan et al
A note from Dave from Denver…
"Hate to say the bottom is in, but it sure feels like, barring a complete market collapse, we may have seen the lows in gold/silver. China is closed next week so that may give them window to hit the metals again unless India kicks into high-gear, which it could."
The Commitment of Traders Report
Silver
*The large specs reduced their long position by 8,794 contracts and increased their shorts by 1,681.
*The commercials increased their longs by 5,652 contracts and reduced shorts by 10,794.
*The small specs decreased their longs by 7,862 contracts and increased shorts by 1,471.
By any account, this is one of the most bullish COT reports on silver I have ever seen!
Gold
*The large specs decreased longs by 31,086 contracts and decreased shorts by 8,358.
*The commercials increased longs by 5,200 contracts and decreased shorts by 25,745.
*The small specs decreased longs by 5,909 contracts and increased shorts by 2,308.
By any account, this is one of the most bullish COT reports on Gold I have ever seen.
Jessie… The Precious Metals Duopoly
The report shows that JPM has about 80 percent of the gold derivatives in the world on its book, with HSBC holding the other 20 percent. And in other commodities, JPM holds a similar position as well as part of their $78 trillion derivatives book.
JPM is not just too big to fail. It IS the market. And 95% of their transactions are still OTC.
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