And now for the wild silver COMEX results from Friday’s trading:
The Commercials have been hunting for the correct price point to get Speculator shorts unloaded and they found it.
Pain tolerance reached its limit and some of those shorts covered were bought at much higher prices. Just a couple of weeks ago we hit a low in silver of $14.15 and this past period we see price hitting $17.35 as over 6,700 Speculator shorts are torched for losses – some approaching $3 an ounce!!!
The picture I want to leave you with this week comes from November 4th COT numbers and are in the 2 pictures, silver followed by gold, at the very bottom.
The Large Speculators have been raped, pillaged, and sacked.
Commercial mission accomplished as those Large Speculators were robbed of about 54% of their naked shorts.
The numbers are in from the latest COT report, and it reveals those large specs that have been short in silver covered a monstrous 5425 contracts:
Notice the abrupt halt to the precious metals “rally”. If the price spike was caused by enormous Speculator long buying enthusiasm, we would still be watching PM prices shoot or drift upwards. This was a Commercial exercise, pure and simple.
It is very indicative of what will happen next year on a far larger scale where Speculator longs will be pounded “in the blink of an eye” by a Commercial short covering of gargantuan proportions.
Price will descend into the abyss for moments while pre-programmed Speculator short buying eats up shorts all the way to the bottom as Commercials gladly take the longs and the temporary “losses” and then WHAM price rebounds upward just as suddenly as it dropped. But this time there will be no upper limit.
Price might just be about $14.15 (elite telegraphing the future?) this time next September when this event happens and may well dip into the $8 handle but when price rebounds minutes later it is not going to stop at $16.15 on it’s way to $100, $500, and beyond as trillions of dollars of paper fiat rush into commodities looking for a safe haven from what appears to be the repeat of the 2008 c rash.
This looks, for many reasons, like a major low in silver, and I expect to see silver at new highs in 2015 or 2016.
Note the following graph of silver prices on a log scale since 2010:
This week’s COT report in gold reveals that the large speculators (non-commercials) having their shorts ripped off them as they flee their positions in fear (or stops were tripped by the sudden price jumping “up like a ROCKET” and they could not cover certain short positions fast enough.
But which short positions did they cover, the recent short positions taken or the ones taken at much higher prices? What we see in the commercials is BUYING.
What we see the day after the COT Week is a MUGGING.
They are masters at this game and the hard and fast rule is THE HOUSE ALWAYS WINS.
SERIOUSLY, are you watching this manipulation set up?
I have written numerous times over the years that they do exactly that sort of operation taking both sides of the bet because you are about to see what appears to be some market volatility but is in fact planned, calculated, pre-fabricated volatility that will shake up the speculators from both ends of the price war and leave them dazed and disoriented and trying to regroup.
After the COT week, we saw some incontrovertible evidence of this on Friday as price jumped up like a ROCKET.
I will step out on the plank now and tell you some speculators got scared out of their shorts on Friday.
Happens every time.
All speculators should cover all the shorts they have right now to secure MASSIVE profits!
But they won’t. Why?
The speculators really believe they can force the Commercials hand and pin their positions on them but that is not mathematically possible. They sense and even smell the blood of far lower spot prices in the future and they are determined to hold the mass of shorts for that payday.
Failure looms in their future as metals will not be allowed to crash until September of next year and it will not be the speculators who profit then but the Commercials who crash it in a few minutes, cover all their short positions as speculators and day traders give up their longs, then those Commercials go extreme long into the most incredible price rise in the history of any commodity (or equity).
The die is cast.
The bankers came to work early yesterday in the access market knocking both metals down.
However throughout the night, gold rose nicely and then at 12 noon today, something spooked our bankers as gold rose to $1165 only to be repelled back to $1163.00 on closing. However late in the access market, gold again rose to $1173 upon which it was easy for our bankers to offer naked contracts and lower the price to $1164.00 at access closing time. Something is spooking our bankers!!
Let’s head immediately to see the major data points for today:
The manipulators have thrown all their cards on the table.
I warned on Wednesday to expect severe cartel intervention over the second half of the week.
Let’s head immediately to see the major data points for the day:
We are in a bottom for sure. How long will it last is anybody’s guess- but silver stackers need not worry.
This is only a question of how much fiat can you raise in order to purchase hard core, hold in your hands bullion to hold for a couple of years through the greatest worldwide total economic collapse in history and the institution of a one world government and one world currency.
They simply must destroy the U.S. dollar along with all the world’s currencies otherwise the many that hold USD would retain power and that means many nations and small businesses that oppose them.
“The Powers That Be” want it all for themselves!
Gold & silver were whacked by the cartel in the access market today as Janet Yellen and the Fed announced QE will end at the end of the month.
Expect gold and silver to be under the weather for the remainder of the week.
Let’s head immediately to see the major data points for today:
First: GOFO rates/ We are now in backwardation!!
Let’s head immediately to see the major data points for today…
What you see on the chart on this past Friday into Sunday/Monday has all the markings of a classic commercial short covering price raid but that is the subject of next week’s report after the numbers come out… That $16 handle came and went quickly, did it not? It is still time to BUY, BUY, BUY physical silver with every fiat cash dollar you have.
Plan on holding 1.5 – 2 years into the biggest wave up you will have ever witnessed in any lifetime!
Silver traded as low as $16.85 Tuesday morning at a silver to gold ratio of about 71 to 1. We have to trace back to 3/22/2010 to find a time for silver at that price!
BUY Physical silver like there is no tomorrow at these prices while it is available, as we are setting up for an epic short squeeze…
Here are the likely profits taken by the commercials during the latest COT week: 2 Million ounces at $50 profit is a cool $100 MILLION profit. At $200 an ounce that is $400 MILLION profit. So there are the two ends of the spectrum, not a bad haul for a week.
Meanwhile, the speculators appear to suffer from delusions of grandeur aka greed. They are convinced price is still going down now and they are loading up for the fall (as the commercials covered 2 MILLION oz of gold shorts!).
They are seeking payments on their new hedge fund(ed) homes out on Long Island, I guess.
The speculators are not going to be rewarded unless they sell those shorts NOW.
And by the time this is read it may be too late…
I have written several times previously my absolute BUY signal is $18 and below…
We now have a $17 handle in silver.
If you have the ability to buy with all your cash then I fully recommend buying physical now and not waiting a minute more for a lower price.
I highly recommend liquidating all equities, bonds, anything of paper value to buy physical silver right now.
Silver and gold have an upside down rocket attached to them and they have been speeding downwards ever since they made their highs in 2011 and 2012, respectively.
Never mind the fact they are spoken for and used up as soon as they hit the market, never mind the fact they are hard to amass in great quantity, never mind the fact demand is high and production is steady.
What happens next is like the final act of a masterful play.
Look for this depressing scenario in the precious metals markets to continue for another 12 months and then, WHAM!!, worldwide economic collapse- the commercials crash silver and gold, flip their short positions to long cashing in near the bottom and stripping massive amounts of money away from the little people in the process (they always do).
I fully expect there to be some ups and downs before that worldwide economic crash.
I use no caution whatsoever in urging everyone to liquidate as much paper as possible and buy physical silver and gold at these prices.
Yes, the depression is going to last another year but after that no one will be able to buy ANY PHYSICAL once the world wide collapse is in full swing.
The latest COT reveals the commercials very involved in this latest price crash.
In gold, we see speculators packing on 16,790 shorts and a huge short covering by the commercial. That’s some 2.14 Billion in additional shorts by the speculators!
The latest cartel raid continues the long depression in precious metals as gold and silver are still going down, down, down, South of the Border!
It may take a little longer but a price rebound is coming which will bring interest in precious metals into focus again as they need to keep up this façade of a real market for another year into 2015.75.
In gold, we see MASSIVE new short positions have been taken by the large speculators and this plays right into the hands of the commercials for a soon to come price rebound.
These large specs added 12,983 new short contracts while their stops were tripped on the long side to the tune of 11,824 long contracts snuffed out of existence. As absolute proof that this latest price raid was an operation by the commercials, we see them covering -19,058 short contracts or almost 2 MILLION short ounces with a street value of almost $2.5 BILLION dollars into the latest smash!
When physical is this cheap you should be BUYING.
Silver and gold prices continue to deteriorate as the speculators continue to buy up shorts and the commercials were able to wrest all higher priced longs from them in short covering, depressive episodes which, repeated in nature, have convinced the speculators prices are going much further South, and soon.
The important thing for the powers that be to do now is to reinforce the negative thinking on the part of speculators and anyone with interest in physical metal as they want it all for their one world currency backing, and they want it at low prices.
When prices do go below $17 we are going to begin to see foreign governments coughing up physical into the market as they will embrace all things paper and the promise of far greater returns on investment and protection from inflation for their people while watching the DOW eclipse 18,000, then 19,000 then…20,000.
If you believe Martin Armstrong, we will see DOW in the high 20,000s maybe even break 30,000.
All will seem well in the world of paper until merely days before the planned economic collapse of the world’s derivatives and bonds, and lastly all currencies.
Both houses of manipulation viciously attacked both gold and silver on Friday.
Guess why price went down after the COT Week? It’s called “A Time To Kill” speculator’s positions right before price is allowed to go up…
This is too simple, it is an orchestrated massacre and played out with the greatest of mathematical minds who have programmed their trading and HFT-ing to loot speculators at their every turn because speculators,(at least the paper playing speculators) are like sheep led to the slaughter since they cannot coordinate between themselves to take positions and stick with them that would stop this madness.
The Commercial’s goal is to rape, pillage, and sack as much speculator wealth as they can prior to the planned worldwide economic crash of 2015 that destroys all the world’s currencies.