Deposits to dealer, ZERO
-2166 contracts or 10.83 million oz
-Deposits to dealer, ZERO
-Straight from Harvey blog: "When you have tiny notices with a large open interest standing certainly is causing headaches for our bankers as they scour the planet looking for metal to satisfy our longs. No doubt Blythe will be very busy this weekend trying to encourage the option holders and the long holders of May silver to accept cash. I would like to emphasize that a cash settlement is a defacto default. However our regulators are not present so anything goes in this casino."
Gold: 8,312 contracts covered. Bullish.
Silver: 8438 contracts covered. Bullish.
Interesting. Thats a large amount of contracts to be covered in Silver especially at these prices. Now if I was JPM and I knew where the price of silver (or anything is going since THEY are the market) WHY WOULD YOU COVER AT ALL TIME HIGHS?
If silver was truly in bubble territory they would have added to the shorts and covered at a much lower price. Something BIG is about to happen. This is a HUGE tell unless the data is a set up for a bull trap. I doubt this is the case, but Blythe needs to do anything to get the fuck out of this situation.
This is huge. Realize that the biggest players in this market dont cover to take massive losses at 5000 year highs if they know its not going higher.
So. We go higher. They have given us a "tell." May not be tomorrow, but this report just told me to keep buying. Up we go.
Thank me lots, my kid is dieing for some more eagles (if I can find them)!