From LeMetropole Cafe tonight: Ted Butler on silver:
The extreme market structure in COMEX silver (and gold) continues to get more extreme. In other words, the concentrated net short position held by the largest four and eight traders in COMEX silver continues to grow.
The most recent Commitment of Traders Report (COT), for positions held as of Feb. 12, indicates the four largest short traders now hold a record position of 59,564 contracts, or almost 298 million ounces, That’s 170 days of world mine production. The eight largest traders are now net short 73,987 futures contracts, or nearly 370 million ounces, That’s 211 days of equivalent world mine production. Let me repeat, these are all records. Never have there been larger concentrated short positions in silver…
Can't imagine what the price of ECU will be when this compressed spring sproings!
What was that about ECU...trading 8 orders of magnitude below where it should be.
"The time for hesitatin's done...come on baby light my fire..."
Congrats on all the good posts today fellow longs! Go for it!
