I scooped up some Tinka today, thanks for pointing it out.
Silver tacked on $.19 after the close today, I can't recall it ever doing that on a Friday. Can't wait until the open Sunday. This thing looks ready to really start galloping.
As we can see in GOLD the Commericals increased their NET SHORT positions 18,790, whereas in SILVER the Commerdials actually liquidated -1,333 NET SHORT positions.
If we go back a week ago we find this in the COT REPORT:
COT REPORT 2/26/11
GOLD NET SHORT = +13,180 contracts SILVER NET SHORT = +2,746 contracts -----------------------
In the two weeks we find that the commercials increased their NET SHORT POSITIONS to the following:
This is interesting when we compare the Bank Participation Report from last month to present:
FEB. BANK PARTICIPATION REPORT
SILVER COMMERCIALS SHORT = 19,706 (15.7%) OPEN INTEREST = 125,287
GOLD COMMERCIALS SHORT = 96,584 (20.9%) OPEN INTEREST = 462,907
MARCH BANK PARTICIPATION REPORT
SILVER COMMERICALS SHORT = 25,586 (18.8%) OPEN INTEREST = 135,802
GOLD COMMERCIALS SHORT = 92,596 (18.0%) OPEN INTEREST = 515,784 ---------------------
What we find is that in the past 2 weeks according to the COT REPORT, the Commercials added 31,970 NET SHORT GOLD CONTRACTS, but the Bank Participation Report shows that the Commercials actually dropped about 4,000 contracts.
Whereas in SILVER, we find the opposite. In the last two weeks the COT REPORT shows us that the Commercials only added a lousy 1,413 NET SHORT CONTRACTS, but according to the Bank Particpation Report they have added over 6,000 contracts.
Something does not jive here. How can the OPEN INTEREST in GOLD increase almost 53,000 contracts and the Commercials liquidate 4,000 short contracts...but in SILVER we find an increase of OPEN INTEREST at about 10,000 contracts from the prior month with an additional 6,000 Short Contracts by the commercials.
Trader Dan: "In other words, the short leg of the spread is coming off but the trader is attempting to ride the long leg a bit higher before lifting it and may be waiting a day or two or even more before selling that position." Remember how WB mentioned one week she was "closing shorts by tuesday"? Looks like it is maybe the spreads taking out one side of their positions, holding onto longs for a few days, that is making this thing rocket rather than new longs coming on board. It's just not showing up in the COT report but I think it is only a good thing for the longs. Just came on here to say thank you SGS, I have to start listening to you more.
I scooped up some Tinka today, thanks for pointing it out.
ReplyDeleteSilver tacked on $.19 after the close today, I can't recall it ever doing that on a Friday. Can't wait until the open Sunday. This thing looks ready to really start galloping.
Ha Ha Ha
ReplyDeleteI'd like to see a video of Blythe shitting her pants as silver blows through $36.
ReplyDeleteSchiff compares Bernanke to a chicken. I laughed my ass off.
ReplyDeletehttp://www.europac.net/media/video_blog
Blythe needs a good Chardonnay douche after today...ouch!
ReplyDeleteAC_Doctor
Easy $40 Silver by May 2011... after that, TO THE MOON!
ReplyDeleteI so wish we could post pictures here :)
http://i54.tinypic.com/2h804m8.jpg
what happened to the trend power gauge...it was a steady 37 now 27 what gives?..
ReplyDeleteps. go gpl, tkrff....
ReplyDeleteBlythe on film
trend gauge needs oiling, it has been revving high for so long, it blew a head gasket
ReplyDeleteit definetly was red lining for about a week....
ReplyDeleteback off on the nitrous
ReplyDeleteyo sgs,
ReplyDeleteI found this through max keiser's website, check this out:
http://www.youtube.com/watch?v=sR28o5f9aKE&feature=player_embedded
COT report if you can't wait for Harvey's analysis :)
ReplyDeletehttp://www.cftc.gov/dea/futures/deacmxsf.htm
Thanks for the Tinka tip. Now let's hope Encanto comes through.
ReplyDeleteBANK PARTICIPATION REPORT
ReplyDeleteThe Report just came in and we find a strange situation between gold and silver.
The COT REPORT showed the following:
COT REPORT 3/4/11
GOLD = Commercial LONGS -2,121 contracts
GOLD = Commercial SHORTS +16,669 contracts
GOLD NET SHORT TOTAL = +18,790 contracts
SILVER = Commercial LONGS -259
SILVER = Commercial SHORTS -1,592
SILVER NET SHORT = -1,333 contracts
As we can see in GOLD the Commericals increased their NET SHORT positions 18,790, whereas in SILVER the Commerdials actually liquidated -1,333 NET SHORT positions.
If we go back a week ago we find this in the COT REPORT:
COT REPORT 2/26/11
GOLD NET SHORT = +13,180 contracts
SILVER NET SHORT = +2,746 contracts
-----------------------
In the two weeks we find that the commercials increased their NET SHORT POSITIONS to the following:
GOLD = +31,970 contracts
SILVER = +1,413 contracts
This is interesting when we compare the Bank Participation Report from last month to present:
FEB. BANK PARTICIPATION REPORT
SILVER COMMERCIALS SHORT = 19,706 (15.7%)
OPEN INTEREST = 125,287
GOLD COMMERCIALS SHORT = 96,584 (20.9%)
OPEN INTEREST = 462,907
MARCH BANK PARTICIPATION REPORT
SILVER COMMERICALS SHORT = 25,586 (18.8%)
OPEN INTEREST = 135,802
GOLD COMMERCIALS SHORT = 92,596 (18.0%)
OPEN INTEREST = 515,784
---------------------
What we find is that in the past 2 weeks according to the COT REPORT, the Commercials added 31,970 NET SHORT GOLD CONTRACTS, but the Bank Participation Report shows that the Commercials actually dropped about 4,000 contracts.
Whereas in SILVER, we find the opposite. In the last two weeks the COT REPORT shows us that the Commercials only added a lousy 1,413 NET SHORT CONTRACTS, but according to the Bank Particpation Report they have added over 6,000 contracts.
Something does not jive here. How can the OPEN INTEREST in GOLD increase almost 53,000 contracts and the Commercials liquidate 4,000 short contracts...but in SILVER we find an increase of OPEN INTEREST at about 10,000 contracts from the prior month with an additional 6,000 Short Contracts by the commercials.
Again....something FISHY THIS WAY BLOWS
Silver has gained $9 in the last month. It has done so without a COMEX default and without a USD crisis and without a major short covering event.
ReplyDeleteWhat will happen when one or more of these events go active? $9 in a month becomes $9 in a week becomes $9 in a day.
Which is another reason why I expect $69+ Silver in June, heavy on the "+".
Joe M.
SRSroc: all data is now fucked that comes in.
ReplyDeletemetals report out soon...
http://traderdannorcini.blogspot.com/2011/03/trying-to-solve-silver-cot-mystery.html#comments
ReplyDeleteis Dan tryj
I don't understand what Dan is trying to say. Too much of technical jargon.
ReplyDeletewhy is OI going down ?
cooked data/reports ?
is there any cause of concern in log side ?
Trader Dan: "In other words, the short leg of the spread is coming off but the trader is attempting to ride the long leg a bit higher before lifting it and may be waiting a day or two or even more before selling that position."
ReplyDeleteRemember how WB mentioned one week she was "closing shorts by tuesday"? Looks like it is maybe the spreads taking out one side of their positions, holding onto longs for a few days, that is making this thing rocket rather than new longs coming on board. It's just not showing up in the COT report but I think it is only a good thing for the longs.
Just came on here to say thank you SGS, I have to start listening to you more.