I haven't heard anyone express the +'ve I'm seeing in the COT...below:

http://www.321gold.com/cot_silver.html

When U look at the Long Speculators, (23,437 contracts), versus the Long Commercials, (55,226 contracts), U now see why the kind of fishing-line takedowns we've seen in the past, WILL NOT be effective.

The intent of takedowns is to make the Long Specs sell; however, that will clearly NOT happen when the Long COMMERCIALS are protecting their 55,226 contract LONG position!

On the last takedown, over the week to Tuesday, the Shorts were only able to cover 56 short contracts all week. In contrast, the Long commercials protected the downside by buying 2,362 contracts.

This has become a NEW war, between the Long Commercials and the Short Commercials. The Long Coms appear to be buying and protecting the resistance zone.

Ted Butler calls these Long Commercials "The Raptors". They have clearly taken over the fight against JP Morgan and the other Short Bullion Bankers, as they now hold almost double the LONG position of the Short Specs, and are almost 70% of the size of the SHORT Commercials!

This is very encouraging for me.

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gildage