Senaste från Ted Butler på Ed Steers blogg:
I always held that while as crooked as a June day is long, the COMEX commercials—and JPMorgan in particular—were smart crooks and would know in advance of a pending silver shortage and position themselves as advantageously as possible. The final sell-off wasn’t likely to be a brutish affair in which silver prices were smashed lower too aggressively for the technical funds to jump aboard the short side. It had to be a sell-off of such precision and skill to assure the maximum technical fund and speculative selling that would enable the commercials to buy and position themselves as favorably as possible.
While I fully understand why many would assume the commercials would do again what they’ve already done twice this year so far, I still hold that the coming silver rally should be treated as if it’s the big one. For one thing, if this does turn out to be the big silver move that I have been expecting for decades, there will be no do-overs or second chances to get on board – one will either be on board for the big silver move from the bottom, or not be on board from the bottom. – Silver analyst Ted Butler: 01 October 2014