Early Stages of a Short Squeeze?
With Options Expiry Over, the Naked Shorts Have Released Gold and Silver to ROAR HIGHER:

From SprottMoney:

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    • @NoGreenRectangles4me

      Agreed.  I see no rush to buy as necessary.  By the usual summer doldrums, at the latest, there will be some much better buying opportunities available to us all.  As usual, as metals prices fall, premiums will rise.  But, it is what it is and that’s typical PM market behavior.

  1. Can anyone shed light on the lack of movement higher by JNUG? I know its not just gold that affects it, but it sure seemed to be when gold was going down. From a cursory look it seems they are manipulating the price to minimize payouts – they have saved a lot in last 2 days, if so. Anyone? Thanks.

    • I don´t recommend that instrument. There are fees and heavy use of futures so there is a fast decay (like a radioactive element), when the juniors go up Jnug doesn´t deliver the 3x growth except maybe for a few hours, when those miners go down you can bet the decline will be faster than 3 times the direct damage.

      JNUG is only advisable for a short term but the returns with manipulated metals can come in the middle to long term. For instance if you take 3 years the MVIS , index of juniors miners that JNUG promotes as the benchmark they have to beat 3x has returned 2%, one would think JNUG would have delivered 6%. No, it has lost 40% in that time frame.

      I would recommend to buy 5 or 6 of the main components, with adequate weights the behavior of this portfolio should be very close to the junior miners index. Fees would be minimal and best of all there would be no exposure to contango futures that can cost up to 1% per month in most of the month closings.


    • @zag zig I answered in detail but was kidnapped. I would go with 10 largest names components of jnug. It is too atomized to use just 5. Jnug has 48 names.

  2. Like it ALWAYS DOES. [************], WE’VE SEEN THIS FOR 6 YEARS RUNNING.

    I’ll bet everyone here a Silver Eagle that between now and the Next Expiry date that PM’s retrace their lows again. Only to, and wait for it, TO EXPLODE HIGHER AFTER YET ANOTHER EXPIRY DATE.

    I can hack my watch by these asinine articles…

  3. Another thing, I’m not listening to Eric Sprott anymore. Haven’t for years. If he is so F-Rich and smart, why doesn’t he Blow-Up the Silver market by buying all the Silver on the Comex??? I’m starting to think he’s in Cahoots with JPM. He’s the Ying to their Yang…

    • The Comex can change the rules as they please to suit their own needs. They do no have much metal on hand anyway and pretty much serves as a paper exchange.

      Sprott is a smart guy. He wouldn’t want to paint a huge target on his back by going to war with the Comex. We all know what happened to the Hunt Brothers.

    • And i doubt Sprott is upset that he can still accumnulate silver at discount prices. Why would he or you want the price to go up? Eventually, sure, but i buy $1300-1400/month in my 401K so i’m content with prices where they are.

    • Thanks again for putting this short video on to help those of us that are interested.  It saves us chasing around each week or so looking for it. _JLG. 

  4. Wow, just wow.

    Just came back from Seattle.  So the Seattle real estate market, where there’s 20-50 offers on a home, and the sale price is 130% of the ask price, and the terms are cash/all contingencies waived…my SD headline:

    “Seattle real estate CHIRPS like a pager on vibrate, while silver ROARS like a guinea fowl with a sinus infection.”

    I would call Seattle a bubble, but its cash sales, not appraiser fraud.   Many Chinese buyers.

    Dirt can be shiny, too.

    • Hi K. Honaz

      How can they buy now with capital controls of US$50,000 per year?

      Are there no limits for real estate transactions and wiring over for property?

      I just learned a Chinese owner in Honolulu has to rent his house there for two years now

      before he can sell it. This is a new law in China.  Maybe they can buy and rent them

      out but when it comes to selling it . . . .


  5. Silver remains top dog to all other asset classes two years running now.


    eBay premiums are totally ridiculous right now.

    Oil above fifty dollars a barrel is hugely bullish for silver.


    We’ll see about gold.

    ABX’s numbers should tell the story for the dirt lump. Long way back to all time highs for that name.

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