Not August Yet

She's going up Freedom have no fears, August is the month. The Cartel are trying to push it down tonight but failing. Here is a post from my favorite Silver Forum and one of my favorite posters, he knows his S****.

Recall, I had pointed out that this "big" delivery month for silver (July) had only two days left--today and tomorrow. Well---today, delivery has increased by 76 contracts---LOL!

They try to keep silver down to keep long players out. But when they drop silver too far as they did to as low as $26 recently, smart folks jump in and call their bluff! It's so funny to see this sort of thing happen at the last minute!

Here is a table of today's activity:

DeliverIntentionsJuly2012.jpg

We now have 1988 standing. This is not an incredibly big number, but the fact that a significant number of new players stepped up to the plate is very interesting indeed. With all the other events I've discussed happening at the same time, this is yet another indicator showing that we've seen the bottom in the silver price IMO.

 

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