In Ted Butler's Archive


Never, in the past 40 years, have the 4 big shorts in COMEX silver ever not sold aggressively on a significant rally. This is the very first time (with the only exception being the run to $50 in 2011). The matter of big 4 shorting and their constant aggressive new shorting on any silver price rally has been the focus of my attention for decades – nearly to an obsessive degree. I have long contended that this is the only thing that really matters as to whether the decades-old COMEX silver manipulation would end. Therefore, seeing the big shorts not selling after all these years and decades, is the biggest thing ever in silver. The most remarkable thing is that it’s all in the COT data. Therefore, the situation should be in place for silver prices to finally explode upward. So, if the big 4 don’t add aggressively to short positions on new buying of any kind and that buying comes in (as it should on higher prices), it’s hard to imagine what will prevent silver prices from exploding higher.

There is only one thing that can delay (but not derail completely) the coming silver price explosion and that one thing is a successful and collusive final attempt by the commercials (including the big 4) to rig a selloff intended to force liquidation of the rather large managed money long position. With some 25,000 new managed-money technical-fund longs having been added on the higher silver prices over the past month, this large number of new longs represents as tempting a target as possible for the collusive COMEX commercials – including the 4 big shorts already holding a greatly reduced short position.

After witnessing price-rigging to flush out managed-money traders in other much larger markets, like crude oil and copper, no one knows if the crooked commercials on the COMEX will pull off one final flushing out of the managed-money longs in silver. I wish I could tell you which it will be; one final flush-out in which the big 4 join in on the managed-money looting to the downside, or if we just blast off with no final flush-out. Surely, no one is depending on the regulators to do a darn thing to prevent another contrived silver (and gold) price smash.

My sense is that this will be decided fairly quickly and there’s still no way to know for sure which it will be – a sharp price drop first, followed by the blast-off higher or no drop and a blast-off straightaway. There’s also no way I’m stepping aside at this late stage and risk missing the certain silver price explosion to come, but it’s an environment where the silver price mechanism has been dominated by highly unscrupulous COMEX commercials. However, that game will soon be over, and today’s low prices will be a memory.

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