Are the Precious Metals shorts at their come to Jesus moment?

The US dollar is still under the support of the London traders with the current value set at 87.82,  up 10.9 points after their attempt to push it above 88.00 again.   Treasuries are elevated as well making up for the losses from yesterday as we see the central planners once again attempting to tell the world that everything is under control.   And this is exactly our problem,  it is under control,  and we’ve had enough!

The Energy Sector may have found its bottom but we need a bit more time to confirm this as all the energies are bounces off their lows from last week with Crude Oil’s price now at $74.39 (Jan contract) with the rest of the sector waiting for the shorts to exit as they too have been controlled.   Have you noticed that there is no more ISIS reports anywhere?   Lame Stream Media has lost its abilities to control the flow of data as the finders of truth no longer bother listening to the constant no stop talking these clowns do.

Gold is up 30 cents this morning with the trade at $1,194.30 close to its high of $1,196.60 after another attempt to knock out the buyers when they hit the price down to $1,176.20.   Open Interest gained in yesterday’s attack with an overall total now at 463,948,  a gain of 2,404 contracts.   December’s OI stands at 180,695.   Very heavy for only 5 trading days left before the specs have to exit.   Silver’s trade at present is lower with its current price at $16.24,  down 5.4 cents after being hit down to $15.955 with a high so far at $16.320.   The overall OI in Silver gained with its total now at 172,904 at the same time the December OI is at 66,463,  a loss of another 5,623 contracts.   Still very elevated for the time left in trade.

Bitcoin seems to be being attacked as if someone is trying to steer our leading Anti-Fiat indicator lower with its trade at $361.54,  down $18.46 and inside a 24 hour trading range between $381.10 and $351.80.   Ripple Coin is doing amazing things with its trade now at .006081,  up 199 points from yesterday.   As we’ve stated in the past,  getting these accounts open takes time,  those that wait for the last moment will be the ones we wind up selling to.   Ok,  maybe not,  as I plan to hold mine till the price hits at least $5 a coin.

Grains are mixed to flat,  Softs are mostly weaker with Sugar the only exception,  and the Live Stock Sector added a minor amount of positive in yesterday’s trading.   The Twisted Sisters of the paper realm look beaten and weak this morning as more negativity comes in as we feel that reality is about to come into Cartoonland as Rick Santelli feels the exact same way as we do; “I Feel Like I’m Living In A Cartoon”

http://www.zerohedge.com/news/2014-11-19/santelli-goes-ballistic-i-feel-im-living-cartoon .

Here is a 5 minute chart on Gold that I created to show yesterday’s move.

The point I wash to make may be hard to understand but I feel it may be relevant to all precious metals traders.  First,  let’s look at the amount of short positions needed to bring down the prices.   At 10:30 CST,  3,571 contracts were used in the first hit.   The second redline shows at total of 6,237 contracts added to the first hit to bring the prices down even lower.   The next hit added another 3,582 then the last amount totaled 14,384 contracts which helped create the low price of $1,173.90.   The total amount of contracts needed to bring the prices down in this time period is 27,774 contracts.   Let’s see how many contracts it took to make the price swing up to $1,200 before control came back in.   It took 4,686 contracts at 12pm CST,  2,259 contracts at 12:05,  and 9,773 contracts at 12:10,  a total of 17,018 contracts.   Even though the central bankers have managed the prices for years,  it seems there are gaps or maybe we should call them air pockets in the volume that shows the problem the shorts are in.   See,  these short traders have to buy back their positions in order to remove themselves from being short.  There has to be a willing (outside the banks) seller of a long position at these prices for this to occur and apparently there are very few.   It took 27,774 contracts to get the price down,  but only 17,018 contracts exited to bring the prices back towards their highs,  a difference of more than 10,000 contracts.   Is the OI staying high because the shorts can’t find a buyer to exit the trade without sending the prices sharply higher with air pockets or gaps showing up everywhere?

Let’s look at the attack on Silver yesterday;   792 contracts used at 12 pm,  1,810 contracts at 10:35,  1,781 used at 10:40,  and 4,048 contracts used at 10:45 to bring Silver down to its low of $15.87.   Now the upswing’s numbers.   It took only 2,145 contracts at 12 o’clock to spike Silver higher,  12:05 pm – 1,105 contracts,  12:10 pm – 4,307 contracts were used to bring Silver to a new high for the day at $16.355.   The total short trades needed to bring the price to its low equaled 8,431 contracts and only 7,557 contracts to make a new high,  the difference between the totals is 874 contracts.   Air pockets where there was no traders willing to exit their long positions as the shorts remain stuck with now an additional amount of 874 short contracts they have to get out of in order to square their trades.   If no Buyers of the Precious Metals contracts is willing to give up their positons at these low prices,  and,  if these holders of the December contracts are actually going to stand for delivery,  we’re on the cusp of the short trader’s having their “Come to Jesus” moment.   I most likely am way off here,  but we’ve witnessed these attacks for years,  but not a recovery like we had yesterday!   Something very,  very big is happening and it’s right in front of us.

We still strongly believe that Silver,  Gold,  and the Crypto’s,  will save people’s purchasing power as we watch for meaningful changes in the way the bankers (that haven’t been killed) act at the same time these Precious Metals seem to be ready to spike. So keep them close and as always … Stay Strong!!

JB Slear
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com

Don’t risk what you cannot afford to lose….
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