Silver COT reports

[jim4silver]

Today's silver COT report shows another week now where the Commercials added longs and removed shorts. This has been happening for roughly 4 weeks or so if I remember correctly. They are still far more short than long via total number of contracts, but their trend has been removing shorts and adding longs now for about a month.

Commercials are the group that is often called the "smart money" (see below link for explanation). I don't think they would keep up this recent trend if prices were going too much lower, but maybe they don't know what is coming?

Small Speculators on the Wrong Side of the Markets

It appears that this week the Commercials started unloading more shorts in gold. The Commercials were still shorting the crap out of gold for the past few weeks while going more long in silver. I see another good pop up in prices coming soon. They may drop it down again like they did in 2011 but I still believe it is going to happen starting at latest this fall but probably earlier.

Here are the latest gold, silver and dollar COT reports released today at 3:33PM.

http://news.goldseek.com/COT/1365190361.php


Jim

 

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[Marchas45]

Yep it's a good sign Jim, I believe we will wake up one morning in the near future and be shocked at the upside in the spot price. Yes I'm dreaming but it's a good dream. Lol

 

[TreasurePirate69]

Well, for once I have to agree with you two. $26 has been a very firm support point now for several years and the longs being added does seem to imply that the trend will be up for at least a while. Will it last or will it just be another "lower high" that we've been experiencing a lot lately? I really don't know.