The Large Specs are believers the bottom is not anywhere close to being in plain sight but the Commercials are going to play puppet master from above and below to get them there and avoid them covering for large profits on the way down to close to September.
What happens in the near future?
I think we get a price rise followed by more price depression.
The Large Specs are betting on more depression and the Commercials will give it to them… but not too quickly.
Submitted by Marshall Swing:
Quote: “Included in this article’s images are the previous COT period’s gold numbers. In those numbers we see while price moved much higher then crashed to about the original price the Gold Commercial’s now have more than 30,000 shorts at their disposal.
That does not portend well for future metal price, AT ALL.“
in my last report.
Here’s a very good reason to have an economy and a world information structure based on gold: http://www.nydailynews.com/news/national/hackers-stole-personal-data-fed-employees-article-1.2255441
We are quickly heading to a cashless society.
Once we are in a cashless society, government will be able to discipline anyone, at any time, and for almost any reason and do it with a simple move of a mouse (or voice to text command) to destroy an individual’s means of protecting themselves (or defending themselves as the case may be).
My apologies for no report on silver and gold the previous COT period but the startup business side of my new found music aspirations is completely overwhelming but I also felt my previous article spoke for what happened afterwards last period. That period was very boring except for a couple of well placed Commercial driven spikes that I mention here.
See the charts at the bottom!
In silver, we are seeing a deterioration in the gold/silver ratio. Previously, I noted it was going the other direction so perhaps the Commercials have achieved the price stability they want to gold, at the moment. If you notice, the June 2 numbers for both gold and silver do not and cannot reflect what happened during that timeframe because price was about level except for one massive price spike and quick return to the same price level. In a situation like that, one has to read into what they are doing based on experience in seeing these in other places where the numbers are more meaningful. Commercials added almost 4,000 new longs to their totals on June 2 and almost 4,200 longs in the June 9 numbers. Price is going down and the Commercials are adding longs!
The June 9 numbers are more reliable. We see definite short covering raids by the Commercials covering almost 17,500 shorts and those Large Specs picked up almost 27,000 shorts. The Large Specs are believers the bottom is not anywhere close to being in plain sight but the Commercials are going to play puppet master from above and below to get them there and avoid them covering for large profits on the way down to close to September.
In the disaggregated silver COT, we see both Commercial houses actively involved in the short covering raids. Same ole, same ole…
Throughout this past period Small Speculators have bought longs heavily on the way down. They are doing what the Commercials are doing, let’s hope they sell for profit and are not greedy on the way up! The important rule in the paper futures game is not to get too greedy and neglect taking profits.
In gold, we see a mirror of what happened in the numbers in silver. But, the one thing that did not happen in silver was in gold price was allowed to fluctuate and it moved from $1162 back up to $1192 before settling at about $1181.
What happens in the near future? I think we get a price rise followed by more price depression. The Large Specs are betting on more depression and the Commercials will give it to them but not too fast.
Still making successful predictions while reporting from the Wilderness of Southern Illinois – DON’T JUST STAY THIRSTY FOR METAL, MY FRIENDS, MORTGAGE YOUR CHILDREN AND BUY EVERY OUNCE YOU CAN!!
Oh, I almost forgot about the rest of the world…
If you’re not following the MERS story in South Korea, you must be on an island in the Philippines or something (Vieques, PR, maybe?)
We got the Plague in Idaho:
And I am declaring Barack Obama is the True American Pharoah rather than some horse:
But, he’s no match for a REAL Secretariat…!
More on that later!
We have vanishing clouds in California:
And do not think for a minute the oil price issues are over or anywhere close to it:
Cheers! (or as they say in the Southern Philippines – Tagay!!)