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iShares Silver Trust Message Board

  • livestrong1003 livestrong1003 May 31, 2013 4:32 PM Flag

    Silver Commercial traders are down to 8,000 short contracts for COT

    This is tiny, and is down from 50,000 net short in February.
    A reduction of 3,000 contracts in the past week.
    The lowest net short reading in 12 years.

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    • That might be but SLV is at its highest short position ever. Now contracts can be put in place at a minutes notice. Right now as it shows on Short interest Data SLV is 12.5 mil shares short. I doubt they are going to turn tales and cover. I suspect we will go up a bit from here as we are now in a new option month but then will be shorted again. I would not suggest to anyone to bother playing in this market. Only buy real silver on a monthly basis and eventually your avg will be lower then what its going to be forced one day to sell for. For now its still MANIPULATE until you can't.

    • So what does that mean wrt forecasting silver price swings? Silver has been in a major bear market for over two years and we're still seeing lower lows and lower highs. We start looking cheap under $20 and back in the old range before the parabolic rise occurred, but if you're buying on weakness like me you use caution and go in lightly. Technicals say we could just keep rolling lower. The thing to keep in mind is that we have gotten many 7 to 10 point bounces or counter-trend rallies on the way down. We probably keep seeing counter-trend rallies pop up even if we remain in the bear market. We are due for another rally soon, but soon could be in another couple months!

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