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R640
We talked about those uber bearish COT’s a little yesterday. Funny thing is that gold and to a lesser extent silver has been ignoring the bearish COT’s for months now, and as you correctly point out, a much stronger dollar.
The only thing gold does seem to be paying attention to is bonds and falling rates.
The thing is, if Wolanchuk is right as you suspect, then the SM has a long way to fall and I would think that means bonds continue to rally and rates fall with the SM.
Not sure why the banksters keep pressing their short bets with gold if we are to believe the COT numbers, other than we know they’ll never have to actually cover their bets with anything but printed fiat.
I’d love to see them actually get the hell squeezed out of them. The pure amount of shorts they have at the Crimex have to be worth at least $500 to the upside.
I gotta go with Wolanchuk–he said the mkt could get very ugly next week…any 100-150 DOW
opening rally next week could be a whale of a sale…I’ll be watching how the trannies open…they FINALLY opened down on Friday–u recall they were strongly up–+130–on Thursday…even when the DOW was down 380 trannies were still up 15..
Gold has ignored the rising dollar-will it ignore these bearish COTs?
The Commitment of Traders Report
Silver
*The large specs increased their long positions by 11,545 contracts and increased their shorts by 1,305 contracts.
*The commercials increased their longs by 1,062 contracts and increased their shorts by 9,386 contracts.
*The small specs increased their longs by 150 contracts and increased their shorts by 2,066 contracts.
The commercials net short position rose to 101,781 contracts.
GOLD
*The large specs increased their long positions by 51,814 contracts and increased their shorts by 6,139 contracts.
*The commercials reduced their longs by 6,110 contracts and increased their shorts by 41,711 contracts.
*The small specs increased their long positions by 4,246 contracts and increased their shorts by 2,100 contracts.
The commercials net short position rose to 385,612 contracts.
@ Eeos – RE: your “Gold is Money” Post
thank you for posting that video. It was excellent!
When will China drop the hammer and announce?
No doubt in my mind that that day is coming, my big question is will I live to see it.
