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iShares Silver Trust Message Board

  • mystikmuse mystikmuse Sep 14, 2013 10:50 AM Flag

    For those who can think some food for thought.

    if the commercials succeed in causing technical traders and other momentum type traders to sell, then the commercials will likely continue to rig prices lower so that they (the commercials) can continue to buy. In retrospect, this was why we fell so steeply in the first half, namely, the technical funds not only sold and liquidated long positions, they established record or near record new short positions as well on the dramatic decline in price. Throw in the massive liquidation in GLD and that’s why we dropped so much in gold (and silver). Since the technical funds kept selling, the commercials kept lowering the price and kept buying. This is how JPMorgan came to hold a long market corner in COMEX gold futures.

    So be wary although the COT Report seems extremely bullish for metals (which it is in the long term) short term it cold mean lower prices because the specs are selling their long positions its the commercials who are buying the discounted gold and silver and the Commercials are staring to cover their short positions...

    Study the COT Report several times and ask yourself why. You will come up with several possible scenarios.
    Be smart.

    the above is a partial quote developed from an unknown consensus... the proof in the pudding will be next week's COT.

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    • I don't think that it is necessary to follow every ripple of the COT report, or there is a different interpretation.
      Large speculators exited long positions for profit taking. Silver has had a big run up and needs to consolidate. Silver remains in a bull trend. We've seen the lows.

      There has been massive imports of gold and silver to China and India this year. Investor demand is brisk. The impact of new solar demand surge for China and Japan has yet to be realized. Silver production is down this year. Phsical demand is up, paper demand is down.

      Silver's price follows its paper trade, as with oil. Silver is extremely oversold on weekly and monthly charts. It will reach new highs. Take advantage of any pullback and follow a strategy, not the worthless commentary ot this board.

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