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 Replies: 24 / Views: 3,609 |
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Pillar of the Community
United States
586 Posts |
Based on COT Gold, Silver and US Dollar Index Report - November 3, 2017 http://news.goldseek.com/COT/1509737577.phpRecent gold/silver futures market had shown that commercial traders built up their short position massively. Last few days' price fluctuation on silver has been especially volatile; another sign that they might be adding shorts at price spikes. Considering the fact that, for the past four years; gold/silver prices were always close to their annual low around Thanksgiving and Christmas. It is very likely a smack down on prices will be under way, soon. Just a thought.  |
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Rest in Peace
United States
17900 Posts |
Prices will always change up or down. That's the only guarantee.
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Pillar of the Community
United States
4333 Posts |
Hey Leon!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
 United States
586 Posts |
@fistfulladirt, Howdy, I have been away for a few months; are you still stacking? If yes, you need to slow down man. According an elliot wave analysis on long-term gold/silver, prices will go lower before higher. How low might that dip be? I am guessing $900 gold/oz in the ballpark. If that does happen, I am certain more people would prefer to buy gold than silver; so that gold/silver ratio will widen again. Believe it or not, $12 handle on silver might not hold. It is $5 cheaper than what it is now. And an impluse wave up will bring it back to $22 area; it would be nice that you start from $12 and end up with $22, wouldn't it?  |
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Valued Member
United States
245 Posts |
I'm in the process of shaving down my stack. We've got a home improvement project on the horizon and I think I'll sell a gold coin or several tubes of silver to pay for it. It's just a bathroom remodel, I'm hoping to not sell too much off.
As far as where the PM markets are heading, that's a wild guess. I subscribe to bull markets equal stagnating or falling metal prices and bear markets equal rising metal prices. That's the best approach for me and it's not bullet proof, but it's got plentry of merit to back it up.
If the market slows down in the next 12 months like everyone thinks it will, the metal markets could very well enjoy a bounce.
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Pillar of the Community
United States
586 Posts |
Smack down ! Over 30,000 contracts (over 4.2 billion $) dumped in one minute. |
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CCF Advertiser
United States
1533 Posts |
That's one explanation. The other is that I have a coin show this weekend.
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Pillar of the Community
United States
586 Posts |
Weekly futures report released: http://news.goldseek.com/COT/1510605129.phpFor Gold, commercial traders reduced long position; short/long ratio increased. For Silver, commercial traders increased short position; short/long ratio increased. A massive sell-off is in the making; watch out below. |
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Pillar of the Community
United States
586 Posts |
Last two months had been bearish for silver for past few years. On futures market, commercial traders' short/long ratio on silver is above 2.5/1 now; net short amount about $6.9B . And chart technicals showed silver weaker than gold. Just started a short position against Silver, moment ago. sell short SLV@16.20 (equivalent of 17.25 spot) I plan to use the profit to buy some silver coins, as Xmas gifts to family and friends. |
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Pillar of the Community
United States
586 Posts |
A detailed calculation on Commercial Traders' position on Gold&Silver Futures market:
For Gold: (commercial traders: LONG-123,149 contracts, SHORT-338,436 contracts)
Short-to-long ratio of 2.75:1, a whopping net short position of $27.7B (each contract 100 oz)
For Silver: (commercial traders: LONG-52,183 contracts, SHORT-133,824 contracts)
Short-to-long ratio of 2.56:1, a whopping net short position of $7B (each contract 5000 oz)
Watch Out Below !
Edited by leon1998
11/17/2017 10:11 am
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Pillar of the Community
United States
586 Posts |
Added more short position on Silver:
sell short SLV@16.35 (equivalent of 17.40 spot)
LOL
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Pillar of the Community
United States
586 Posts |
In the week of Sept 8, gold was hitting 1380-ish peak; commercial traders' short/long ratio reached 3.09:1. Then gold crashed to 1260ish in the following weeks.
Last week, commercial traders' short/long ratio reached 2.75:1; this week I am afraid ratio's going higher. We're about 1298 now; 1200 might be broken in the following weeks.
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Pillar of the Community
United States
4333 Posts |
G n S creeping up!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
586 Posts |
Banksters will come out this week to hit gold/silver prices HARD; they always took advantage of thin trading session around holidays. After all, they're the ones holding the large majority of short positions; and they can't afford to lose. Actually, in the past few years, they succeeded in most of their efforts to suppress gold/silver prices. Silver spot just lost 20c overnight. |
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Pillar of the Community
United States
586 Posts |
Silver DOWN more than 2% now @17.07 Both of my SLV short positions are IN-THE-MONEY now; so far so good. Will use the profit to buy ASE for my relatives and friends as Xmas gifts. Got to thank Banksters for giving me the money to do that. |
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Pillar of the Community
United States
586 Posts |
16.95 now, LOL
The downtrend has started for gold and silver prices. Due to their heavy amount of short position, Commercial Traders will need several weeks of time to unwind. Just keep an eye on weekly COT report on gold and silver futures; it will give you confirmation. I have been through this rinse-and-repeat cycles several times each year; if history is any guide, there will be an interim bottom around this Christmas. Then you need to cover all of your short position and be done with it.
If you plan to stack, wait until Christmas.
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Replies: 24 / Views: 3,609 |
Posted 11/08/2017 7:36 pm
