This was posted on the main blog but rather than having to sift through the main page responses, I figured I'd repost here.
Looking forward to your comments
Everyone is buying with firesale prices. Dealers running low on stock, shorts covering. Could this be the bottom? No surprise the shorts decided to cover. Really, how much further could they drive prices down. The interesting thing will be to see how deliveries go for October and December. Is a COMEX default near?
Something big is coming. Now that everyone is scared shitless in this market, I think something's going to pop off in the next couple weeks and silver's going to surprise to the upside in the near future. everyone will be surprised except for username = Zyphen 8-D
Woody Mornings wrote:
This was posted on the main blog but rather than having to sift through the main page responses, I figured I'd repost here. Looking forward to your comments https://www.gotgoldreport.com/2011/09/stunning-plunge-in-comex-commercial-silver-net-short-positions.html
This data is huge. If people invested as much time in the forums as they do replying to Turd's blogs this would have about 35 hat tips.
My call is this. Some banks go under in the next week or 2. Instead of running from metals, big money comes charging in.
I listened to Trader Dan's comments on the Weekly Metals Wrap before I read this article. If you correlate the two, if makes a very interesting picture. TD, a technical trader and Gene Arensberg, must be a technical trader as well, it seems these two people are seeing things a little differently. I'm a stacker not a trader, so what do I know. What I do know is from I can tell, from many sources, is the "the bottom in silver and gold are close..." or already in. I hope the low exchange rate holds up a few more days as I have only been able to acquire a small amount and I am hoping to stack a little more at the current rates. The analysis that GGR provided, to me, seems to be very bullish for both metals over the coming weeks. If the cartel continues liquidating their short positions and this take the exchange rate lower, it will allow the physical market to fully liquidated just in time for the new PAGE market to go global. What will that do to the exchange rate? No physical available and a new spot market to make things really interesting. I believe the criminal cartel are covering to get out of the way of the new spot market taking over. The Chinese have waited a long time in order to stick-it to the western world, and the time has come. This report and analysis are evidence of the coming changes to the market, IMO.