COT Report – 6-16-15 – 6-23-15
Before I comment on the COT numbers, I want to make thing perfectly clear. We ARE NOT going to see Greece explode today and cause financial Armageddon and a bond and derivative worldwide economic collapse either today, tomorrow, this week, or next week.
It is not the appointed time yet.
In past months I wrote regarding this and so far everything I stated came to pass:
COT Report 1-27-15 – 2-3-2015
So many writers say the jig is going to be up in a few days with oil issues or Greece exit, or Russia issues, WWIII, etc, etc, etc.;..
Sorry, but that is not going to be THE jig.
It is not time yet.
COT Report 3-10-15 – 3-31-15
Now for the good news!
I explained to everyone several weeks ago that Greece would not be the catalyst issue in worldwide collapse, at that time, even though excellent writers were stating it would be.
We are headed for Summertime showdown on a number of international and national fronts but there is no one showdown larger than the BRICS situation and their new development bank that causes the greatest concern on the world “elite” and their economic stranglehold on the world’s peoples that have the potential to relegate the U.S. Dollar to second class status in a short time:
Now that we understand there is at least 77 days from June 27, 2015 (yesterday) until the economic collapse Jonathan Cahn and many others have talked about on 9/12/15 – 9/13/15 or that general time frame [Elul 29 – Tishrei 1 on the Jewish calendar] and made millions off of talking about it (some time after I came out with it in print here at SD), I will once again tell you what no other writer/speaker/preacher is telling you: that I believe firmly 9/23/2015 is in fact the start date of Daniel’s 70th Week and 1290 days of torment for believers over the entire earth as they see the moral principles upon which they say America was founded decay at an ever increasing rate.
Oh, wait, stop the presses! We have seen a lot of that sort of thing over the last many decades and particularly last week, huh?
Well, it is about to get a whole lot worse and even more deceptive than it has been.
Let’s look at the numbers, enough of that horror show talk!
Notice a major discrepancy between the two charts in the early Friday morning activity as silver jumps down about 30 cents while gold appears more normal.
In silver, during the COT Week there was a major hit on silver Thursday and a Friday reversal pattern while gold did not show any of those marks. It is very rare to see a hit of this magnitude while gold is ignored. The one 30 minute red bar to the downside on COT Week Thursday morning represents 5,535 contracts to the downside. Looking at gold at the same moment there is 8,997 contracts in the 30 minute window but price does very little to the downside and come right back up a few minutes later.
Overall, Large Specs grabbed up 7,054 new shorts and total open interest rose 8,499 contracts. Who does that tell you wants and expects price to continue downward? The numbers in the aggregated silver are virtually absent and the disaggregated numbers show us the Swap Dealers did the job on silver while the Producer Merchant was taking some shorts.
But, what is highly unusual in the disaggregated COT is the “Other Reportables” taking on 6,324 longs!! If you follow the numbers over history that almost never happens. Someone is playing the game that has not been playing, at least not in that category of reporting.
In silver Managed Money, we see they grab 8,525 new shorts!
In GOLD, 15,260 new contracts are added to total open interest!
Large Specs took 11,891 new longs and Commercials took 20,983 new shorts!!!
We see a long sell in the Commercials and short coverings in all Spec trader’s houses.
In the disaggregated COT, we see both Commercial houses selling longs and buying up shorts as fast as they can get them. They do not take on shorts to lose money. I repeat this often because those who want to see a Commercial short squeeze are talking total nonsense, mathematically, as they do not relinquish control of total open interest enough for even a small, serious rebellion to take place with the Speculators who do not all take happy hour together.
We see those “Other Reportables” taking on 11,575 longs!!!
Suddenly, after years of trading, these “Other Reportables” have come to life. Hmmmmm, who could they be?
Gold “Speculator” “Other Reportables” have to be dealt with, or do they?
My best guess is the silver Large Spec longs were dealt with on Friday. So that leaves quite some new Large Spec silver shorts but since the downward thrust on Friday was so quick I do not think they were able to cover for profit.
On the gold side, the question is whether the Commercials will deal with the “Other Reportables” longs, or not.
Since gold and silver operated non-congruently last COT Week, I expect they can continue that strategy and successfully deal with the Speculators as needed to continue the “sell in May and please go away speculators” strategy do summertime depression leading into “Shemitah” territory and Daniel’s 70th Week where the global economic collapse results in a one world currency and government and all seem very good for the U.S. to continue its systems of unfair weights and balences right through Daniel’s 7 years (but they are in for some really nasty surprises).
Still reporting from the Wilderness of Southern Illinois, forget about being thirsty for physical metal my friends, drown yourselves in it while it is so DIRT CHEAP with 95%+ of every cash dollar you can muster by leasing your children, parents, extended families, friends and anything else you can get control of to generate cash to buy physical metal,