I don’t have a lot of time today but I did promise a COT review and have included the action covering the last 4 COT periods PLUS A BONUS to those who can hear and see!
I spent so much time and had so much fun drawing the pictures that time has just about run out here at 3:18 in The Wilderness of Southern Illinois:
Revelation 3:18 I counsel you to buy from Me gold refined in the fire, that you may be rich; and white garments, that you may be clothed, that the shame of your nakedness may not be revealed; and anoint your eyes with eye salve, that you may see.
That is real, physical gold, folks, refined in the fire. The white garments are total obedience to Torah.
The market opens up at 5PM today and the GOP is saying they will have a vote on Tuesday. News just came out that John McCain is returning to Arizona and Thad Cochran had a nose job.
Well it is 3:19 now:
Revelation 3:19 As many as I love, I rebuke and chasten. Therefore be zealous and repent.
What will happen on Tuesday, what will happen before Tuesday, what will happen after Tuesday? Only time will tell but for those who can read the signs we know what is coming.
You gotta love this headline coming in the same week the GOP leadership sold unborn children down the river of the Elite’s by murdering Roy Moore!
Is there anything good in Washington, at all?
Another minute passes:
Revelation 3:20 Behold, I stand at the door and knock. If anyone hears My voice and opens the door, I will come in to him and dine with him, and he with Me.
Yeah, well we are all hungry and thirsty so what are you serving for dinner, Jesus?
Deuteronomy 8:3 Man shall not live by bread alone; but man lives by every WORD that proceeds from the Mouth of YHVH.
That’s the Gospel. Check Hebrews 3:16 – Hebrews 4:2
The Gospel was preached by Moses in The Wilderness… Very simple.
But a funny thing happened on the Way to the forum, Silver Commercials decided at the appointed time to take down the Silver Managed Money guys and eat their lunch.
Once again, as I have documented many times at SilverDoctors, increasing open interest does not always mean price increases. In the case of the last 4 weeks, the Silver Commercials again prove my point(s).
It is good to be able to see things from the BIG PICTURE point of view then you can easily see what is going on with the smallest of details. But now we are back to the discussion of Baysian Probabilities, aren’t we?
Just forget Jim Rickards, do your LEGOS:
“Bayes’ Theorem For Dummies”
Now if you like Count Basie, and in a mellow mood then: https://www.youtube.com/watch?v=RT-ZicXR-A4
But if you want a JUMP on where I was at 1 O’CLOCK doing these pictures for you then know how I feel like a Basie© Counting Cherokee in my Indian named town here in The Wilderness:
And yes, they got the name of that band from Basie…
They SWING don’t they?
So, these Silver Commercials, always seizing upon every opportunity nail the Managed Money silver wannabees, force them out of their grossly over weighted silver long positions because the Commercials know the MM’s traders (algos) will eat shorts!
And eat shorts those Speculators did as they went from about 8 times long to net short.
Then I see this FAKE NEWS article included at GATA which in the light of truth I have no idea why they would post it:
On the gold side, which I did not have time to draw pictures, the MM Speculators were 35.8% Long and 2.7% Short thus almost 14 times Long and the Commercials knew something had to be done about them. For the sake of numbers, those MMs were 38.5%/2 in their position before they were gutted and afterwards are 27.6% Long and 10.5% Short thus 38.1%/2 in their position.
Gee, that is not so much of a position change is it?
Managed Money was obliterated and their position mix turned inside out but the position percentage did not change hardly at all.
Why doesn’t Bloomberg’s Luzi-Ann Javier mention that and all my other points in this article? Analysis challenged?
So, after last week’s COT ended Tuesday afternoon, what happens?
Enjoy the pictures!
There is an amazing spike at 13:00 (1PM) on Wednesday of 12,502 contracts (Commercial Longs no doubt, while Speculators are still sucking up Shorts, no doubt).
On the gold side, at the same, exact moment in time, there is an amazing spike of 45,381 contracts and guess who eats most of the Short side?
Alright, remember what I said last time I penned an article a few days ago?
Another X-MASS present?
Remember, I have documented, in the past, sometimes the Commercials buy both the long and short sides of contracts at the very same time.
Tell Jamie Dimon and his Commercial cronies I have very loose long stops.
Enjoy the pictures; they speak thousands of words…
Still reporting from The Wilderness of Southern Illinois where we are having an unseasonable late Fall in warm temperatures, stay very thirsty for physical metal, my friends!