Silver COT Report 12/16/11

As suspected, the commercials covered 2,214 naked silver shorts (11.07 million ounces) in the week ending Tuesday 12/13/11.  With the brunt of the silver smash not occurring until Wednesday and Thursday, we won't have the total picture until next Friday, but it is clear that the commercials (i.e. JPM) are covering shorts and going long into the current price weakness in silver.

SILVER COT REPORT 12/16/11

Silver COT Report - Futures
Large Speculators			Commercial		Total
Long	Short	Spreading	Long	Short	Long	Short
25,572	11,905	17,176	35,629	55,934	78,377	85,015
2,361	1,324	1,112	136	-2,078	3,609	358
Traders
61	35	39	35	41	118	99
	Small Speculators
	Long	Short	Open Interest
	19,934	13,296	98,311
	-982	2,269	2,627
	non reportable positions		Change from the previous reporting period
COT Silver Report - Positions as of				Tuesday, December 13, 2011

Silver COT Report - Futures & Options Combined
Large Speculators			Commercial		Total
Long	Short	Spreading	Long	Short	Long	Short
26,307	8,505	37,801	45,534	70,701	109,642	117,007
2,203	1,426	1,889	464	-1,901	4,556	1,414
Traders
75	37	62	39	44	143	119
	Small Speculators
	Long	Short	Open Interest
	22,445	15,080	132,087
	-1,214	1,928	3,341
	non reportable positions		Change from the previous reporting period
COT Silver Report - Positions as of				Tuesday, December 13, 2011