Here We Go Again — Another Silver Short Squeeze Looms
tfmetalsreport.com / By Turd Ferguson / June 12, 2015
Back on April 15, we accurately projected that a major Spec short squeeze was brewing in the coming days. Nine days later, silver shot higher in a move of +14% in just over three weeks. Well, guess what. The conditions that created that move have returned and another significant short squeeze is right around the corner.
Before you read further, it’s likely best if you go back and review our post from April 15. Back then, price was being beaten lower by the momo-chasing, HFT-algo Specs and most “analysts” thought that new lows for silver were right around the corner. Not here at TFMR, however. Here are the links: http://www.tfmetalsreport.com/blog/6767/another-silver-short-squeeze-looms & http://www.marketwatch.com/story/financial-analyst-forecasts-imminent-rise-in-the-price-of-silver-2015-04-16
As you’ve now just read, the key to forecasting the impending squeeze was in watching the silver Comex open interest numbers. Total silver OI spiked to a new all-time high on March 18 and the very next day a Spec short squeeze developed that rallied price nearly 13% in two weeks. After being squeezed out to an OI low, the Spec shorts gradually returned and total OI made a new all-time high on April 24. The very next day the squeeze mentioned above began and price rose 14% in three weeks.
Below is a chart I provided “Vault” subscribers back on Monday. Not the ebb and flow of Spec short money as evidenced by the increasing and declining Comex open interest levels:
The post Here We Go Again — Another Silver Short Squeeze Looms appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/06/12/here-we-go-again-another-silver-short-squeeze-looms/
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