So let's have the conspiracy theories now....LOL
I read Dan Norcinis comments on JS Minset.com and dan said from his analysis of cot that JPMorgan has NOT been covering their short position in Silver
Go check it out for yourself
I tend to believe Dan
IF I was to subscribe to the conspiracy theory, using every weekly report, I would make a strong case JPM has NOT covered any silver. Which, in of itself would add immense speculation to the conspiracy that they or someone had motivation to have this rumor started.
Hey, I read non-Fiction and Fiction.
Pick your own rationale.
Agree MtStack. It doesn't matter to me either and since I'm a non-believer, I read it all and listen for the entertainment value.
My long term hold in PMs is based on my longstanding and oft expressed fundamental reasons, period.
My trading with options etc is based on other things.
BUT, I will share this with you guys, since I was the person who first posted this latest development.
IF you're playing this conspiracy angle, keep in mind, JPM denies much of what was reported today. That's because it's true, "they" didn't necessarily report it first.
Why did this information get reported today?
Regardless, GL to all longs.
Gotta go, as Elvis is leaving the building.
Since JPM didn't reveal what their position was before or what it is/will be after, the information is rather useless. It is impossible to draw any conclusions.
Will AG go up? Yes, I think so. Will it go up because of what JPM does? I have no idea. I'm positioned to benefit if the price of AG does rise so, in reality, this vague and unquantifiable information really doesn't do me any good. I can't base any decisions on it.
Oh, I have no doubt things point upwards. The question is the speed at which S moves upwards. You can't say that about a lot of positions. And, for that reason, we are all truly in a good place, no?
If what LT and others are saying is true, and I'm open to listening :), then silver should go up to new highs and beyond in very short order.'
Oh and BTW, the Euro just went + and PMs are moving.
It's 9:26 PM. Do you know where the Groupies are hanging out?
The short sqeeze on JPM is massive and going strong. For those having trouble seeing it here you go:
Since JPM is so financially strong, backed by the federal reserve, has a dominating position in the market, and is well "connected" with the exchanges, they can unwind this amazing short position over time in a controlled manner instead of the more traditional rapid spike usually seen in a short squeeze.
But a squeeze it is (ask the asians), and cover they will....
No secret. They went from 320 million ounces short, to 250 million ounces short, over the last couple of months. Funny how a couple of idiots can deduce that means they aren't manipulating the market.
And the pund/groupies start...
Unbelievable! This is really funny. So JPM is spreading rumors in order to cover, right? Oh, and one poster here now says they already covered from 330m to 250m ozs? And soon Blythe will be terminated, right?
And oh gee, what will the King of them all Butler say about this conspiracy. I know. He and Max will say BUY MORE! From their buddies, right?
Silver will go up regardless of and despite these theories.