H.Organ's take on the why the silver price dipped on Friday night
(A small excert from his article yesterday morning)
COT Silver Report - Positions as of Tuesday, January 31, 2012
Those large speculators that have been long in silver decided to tip their toe into the water and add a rather large 1414 positions to their long side.
Those large speculators that have been short in silver probably knew that physical silver was in desperate short supply so they covered a large, 1590 contracts.
Our commercials:
Those commercials who have been long in silver and are close to the physical scene covered 1590 contracts from their long side.
Those commercials who have been short in silver and subject to class action lawsuits for manipulation of silver decided in their great wisdom to add a monstrous 2,118 additional short positions to their shorts. There is no question that one of the primary reasons for the raid yesterday was to try and remove these new silver leaves from the tree.
Small specs:
those small specs that have been long in silver pitched a tiny 86 contracts from their long side. Most stayed and enjoyed a run up in the silver metal price.
those small specs that have been short in silver, saw the tea leaves and covered a huge 920 contracts for them.
Conclusion: a little more bearish and thus the reason for the raid on Friday. In all probability the raid on both silver and gold will prove futile.
end "
AYN Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
