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Silver COT (CFTC - Commitment of Traders) for Period 5/16-5/22/2012

Commercials sold off -1,018 longs but managed to cover -1,704 shorts to end the week with 45.89% of all open interest and now stand as a group at -76,110,000 ounces net short, another huge decrease of almost 3,000,000 ounces net short from the previous week. No one seems to comprehend what these criminals are up to in their strategy to get out of net short positions.

Large speculators got suckered out of 767 long contracts and covered a large 1,144 shorts for a net long position of 53,985,000 ounces, a decrease in their net long position of almost over 3,500,000 ounces from the prior week. They are playing right into the commercial's hand but no one is willing to see what is happening for what it really is and they are greedy so more power to them as they get killed like lambs to the slaughter.

Small speculators gave up 440 longs and purchased 449 shorts for a net long position of 22,125,000 ounces a minor decrease of ounces net long from the prior week.

The commercials struggled somewhat this week in their effort to work their way out of their massive short positions they have accumulated.

For your convenience, if you would like to contact the CFTC and express your views to them, I have provided you their phone numbers and I hope earnestly that you fill up their phone lines: http://www.cftc.gov/Contact/index.htm and email addresses as well:
ggensler@cftc.gov Chairman Gensler
bchilton@cftc.gov Commissioner Chilton
jsommers@cftc.gov Commissioner Sommers
Somalia@cftc.gov Commissioner O'Malia
mwetjen@cftc.gov Commissioner Wetjen
dmeister@cftc.gov Director Meister

How long must the there exist no free market for speculators in the COMEX metals? How much ill-gotten gain from speculators, at the hands of these producer/merchants, is enough for these commissioners to act and do their jobs to ensure a free market can counter their massive open interest monopolies?

The only way to beat the producer/merchants at their game is to go long and stay long. Easier said than done when you watch price drop significantly below your buy price, I know.

COT Silver 5-22-2012

See you next week!

Marshall

 

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