frank, the silver COT report does look promising this week with some commercial short covering combined with an increase in the commercial long position.

Ideally, we would like to see the development of a commercial signal failure where there is a significant reduction in the commercial short position with a subsequent increase their long position concurrent with a spike in the price of silver.

Since the commercials usually liquidate their long position to cover their shorts when the price of silver drops, an increase in the long position with a price spike indicates that a potential commercial signal failure may be developing.

This appeared to be taking place back in late March, but it failed to materialize. I have found Dan Norcini to be one of the best analysts and commentators of the weekly COT data.