I just bought some SLV at 12.68. This commodities fall/dollar rally is related to Russia's behavior. This is an overshoot.
totally bogus action overnight that prob caused some overleveraged punters alot of money funny ... the same folks who did it overnight tried to do it again in a micro fashion after comex closed I have seen this nonsense too many times in recent months ( years ) -Quote the Raven - Nevermore -
Correct me if I'm wrong, but it seems like you believe today's massive drop in silver was done <b>intentionally</b>. No mas! This one has forced liquidation written all over it. ...or perhaps it was an intentionally triggered forced liquidation. That way we'd both be right.
the COT reports show alot of liquidation in gold for both long and short yet their has been no new "offtake" in GLD for quite sometime my interpretation of the COT report for silver shows commercial buying coming in perhaps some shrewd traders are selling silver to force longs in other markets ( i.e. gold , oil , forex ) to get out probably the same thing is happening in the mining stocks all I know if I have almost never seen action like I did last night or at least not in a while
1. Strong dollar 2. Leveraged longs [aka weak hands] bottom fishing 3. Next will be a run from long only funds exiting. If it doesn;t bounce back.... Which IMO is unlikley. COT shows that commercials [strong hands] are short specs are long [waek hands]. There will be good buying shortly around $10 with maybe an overshoot thansk to the long commodity funds to $7. Happy gambling.