Silver has been up big the last 2 weeks when anything New York opens including the 6 pm Globex, the 8:30 am main floor session, and the afternoon market around 2 pm. Stangely enough it has shot up at 1 AM when Sidney closes and has been a crap shoot when London opens. Since there is no London today, they will not be able to spoil the party. It may be that Austrailian miners are the only ones with silver that is not spoken for by London, the US or China and the Aussie miners are forward selling at what they think are top prices. It appears there is a trapped short or a least fear of short selling coupled with a big buyer. The latest amount of shorts on COMEX was about 145 million contracts which is 725 million ounces. The $10 move in silver the last 2 weeks has cost these guys $7.25 billion. Maybe they can borrow some money from the Hunt Brothers.
We have not heard anything out of the CFTC since this spike accelerated.
I wonder if the law suits against JPM and HSBC have anything to do with this. Just think how much the amount of these suits has gone up due to the rising silver price. Maybe the plaintiffs want the silver they sold at $9 back.
