JP Morgan Continues Silver Short Exodus
The latest CFTC Bank Participation Report shows that the BIG US Silver bank short (read JP Morgan) continues to exit their COMEX short position.
http://www.cftc.gov/MarketReports/BankParticipationReports/index.htm
The latest report shows a decrease of 3,674 contracts in the month of December. That equates to covering over 18M ounces of silver shorts with 22,658 contracts remaining or 113M oz.
Obviously, JPM knows what's coming down the road from the CFTC position limits and is trying with all their might to shrink their COMEX silver short.
Will they make it out before the moonshot? Only time will tell.
Buckle up for an exciting time next week as the CFTC discusses Position Limits only days before the Jan 17th deadline.
Oh what fun!
