- "The total OI on Thursday night was 144,301 and today it was reported that the OI rose quite dramatically to 149,899 for a gain of 5598 contracts. That is absolutely humongous as the JPMorgue dug their heels and heroically supplied the massive non backed paper with reckless abandon....The next data was unbelievable: the estimated volume at the silver comex today was 279,844. No doubt we had some switches but that volume was unbelievable. "
- "What have we learned? In silver: the bankers are not covering yet which is a big surprise as they are still adding to their short position. The large specs continue to pile it on hoping for the end game to be played out. The game is between the large specs vs the commercial bankers. The large specs have enormous amounts of dollars to play long. The bankers have enormous amounts of lent dollars from the Fed placed for collateral against billions of paper losses. Without a doubt there will be an epic battle on this front."
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