Friday, September 30, 2011

COT REPORT REVEALS MASSIVE PLUNGE IN SILVER COMMERCIAL NET SHORT POSITIONS!!

We were looking for a bullish COT report after last Thurs-Monday's severe sell-off in silver.  Boy did we get one.
The commercials reduced their futures short positions by 10,794 contracts, or 53.97 MILLION OUNCES!

Combine options with futures positions, and the commercials reduced their silver shorts by 11,571 contracts- 57.855 MILLION OUNCES!
This is clearly the most bullish silver COT report we have seen in ages.
Could silver decline further from here and see an even greater reduction in commercial shorts? Sure, but from a long term perspective, this is an extremely bullish set-up.

Silver COT Report - Futures
Large Speculators
Commercial
Total
Long
Short
Spreading
Long
Short
Long
Short
25,153
9,728
18,511
38,025
62,287
81,689
90,526
-8,794
-1,681
915
5,652
-10,794
-2,227
-11,560
Traders
62
38
43
42
42
128
102

Small Speculators




Long
Short
Open Interest



20,325
11,488
102,014



-7,862
1,471
-10,089



non reportable positions
Change from the previous reporting period

COT Silver Report - Positions as of
Tuesday, September 27, 2011



Silver COT Report - Futures & Options Combined
Large Speculators
Commercial
Total
Long
Short
Spreading
Long
Short
Long
Short
25,509
5,615
54,745
52,423
82,671
132,677
143,030
-8,872
36
1,255
6,952
-11,571
-664
-10,279
Traders
88
34
77
44
46
161
132

Small Speculators




Long
Short
Open Interest



24,177
13,823
156,853



-10,066
-451
-10,730



non reportable positions
Change from the previous reporting period

COT Silver Report - Positions as of
Tuesday, September 27, 2011