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Silver Wheaton Corp. Message Board

  • moses_on_wall_street moses_on_wall_street Apr 17, 2013 5:04 PM Flag

    JP Morgan

    Has to be out from under their short positions now and maybe with a minor profit...maybe. If they have covered, and one would certainly think "they" engineered this downdraft to give them that possibility, the gangbanksters may now be our allies, albeit ones that you'd keep at arms length, as the metals recover from this shucking and jiving we've witnessed.

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    • I am looking at a chart that extends to 2008 pre crash levels. That is a more realistic short covering target range. They are not in this for "minor profit"

      • 1 Reply to bgood4us
      • I recall reading that the bulk of JPM's short positions were losers at around $24 silver. They bit several bullets as the metal was climbing toward $40. the growth in losses was exponential with JPM entirely under water at $35 silver. That's why I believe we are seeing the metals hammered

        I suppose, too, that some of you have heard the rumours of US gov't subsidized buyouts on contracts where people were standing for delivery. That which I read indicated that the cash premium offered to not take delivery was 25% over the face value of the contract.

        Has anyone else seen that sort of info?

 
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