Good afternoon...I have some good news. I just saved 15% by switching to GEICO..LOL, sorry, it just hit me, so I had to write it down.
-OI rose, and speculators are starting to pile in, again.
-Gold outstanding deliveries this month increased to 1, 085,000 oz or equivalent to 33.75 tonnes.
-COT report most BULLISH for Gold in 2 years, yup, thats not a typo: The new year raid that sent CNBC into a "golds done, sell it, the bubble burst frenzy' had our best friends at the JP morgue and HSBC covering a HUGE 26,285 contracts. This is fabulous news for gold longs, as it appears that the raid is done (wait till you see the silver cot report heheh)
-GLD is starting to put out fires as well, they are moving tonnage around like its a fuckin basketball or something.
-Another massive withdrawal of 415,538 oz by three separate customers
-total standing for deliveries is 1,370,000 oz (we are only 5 days in WOW)
-like I siad in previous posts this is shaping up to be an enormous problem for Blythe, she cannot call the Ben Bernank and print silver to deliver.
-only a SMALL amount ditched thier silver longs on the early january silver raid in the COT report.
-JP and HSBC obviously supplied some more paper silver, but the longs are not budging. As the price fell it did not fall enough as they shorted higher prices, and HAD TO ADD to their already MASSIVE SHORT PILE!
-SLV added some oz's, after throwing the metals around to help all their buddies, this may be an indication that the SLV is running on fumes in regards to physical
-silver meter=BULLISH, big time. I will watching Monday-Wednesday's reports, and Sunday night Asia action, I will also be in contact down there to see who's buying. We need to hold $29. After the reports on Monday and Tuesday, we will be able to make a decision if this is another entry point, if you did already buy at $26.50. Make no mistake, this is setting up to be something special in March, and Sprott's call of $50 by Spring may not be far off at this rate.
Corn prices goes literally straight up, unemployment numbers are a joke stop listening to them, Jim Rogers calls $150 oil, and says he will make more in agriculture than metals, Labour force unemployment at 26 years lows, Schiff says Ben is on good drugs, 1 billion sheep may tune into the entertainment game of the year (Super Bowl) while they forget they are being foreclosed on, have no jobs, higher prices, and are starring at the Abyss. And Egypt is burning, yup, still.
Another NIA release yesterday, enjoy. Make sure you tune in tomorrow as I will be releasing some good juniors if you wish to play that field.