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.
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.