Silver Flying High In Weekend After Hours
It is a rare thing when silver is "allowed" to trade higher in the after hours market as the price is much easier to suppress because of the low trading volumes.
So when I see silver jumping up higher even after the close on a "Dollar Day" I start to wonder who knows what? Silver is currently trading at $35.66 and moving.
Let's keep an EYE out for the Bank Participation Report (which seems to be late this week) from the CFTC. What we are looking for is IF that US BANK GIGANTIC short has further decreased their short position before the Position Limits Rule is passed on the 28th.
You will find it here when it is posted.
http://www.cftc.gov/MarketReports/BankParticipationReports/index.htm
If the Silver US Bank number is lower than 19,706 contracts you KNOW that they are running scared and covering on continually higher prices...losing their shirts in the process!
Somehow they need to get their exposure down to around 7,000 contracts in the next 25 days!
Should be VERY, VERY fun to watch if you are sitting on the sidelines with your silver OUT OF THE CORRUPT MARKET as advised.
Keep and eye out for the posting.
Bix Weir
PS - Did you see how our "little project" of getting people to post a comment on position limits is about to hit 3,000 entries!
http://comments.cftc.gov/PublicComments/CommentList.aspx?id=965
Keep it up my friends...the CFTC can't ignore us FOREVER!
