Quote from cashola:
As of today I would estimate that Silver is about 20% of my net worth. A core position in Comex style blocks ( insured storage) is the long position. I trade the YI and ZI daily playing the movements as seems fit. I have been staring at the price flow for 4 years. My understanding and observation of the 5 to 800,000,000 oz short that 4 horsemen (and their smaller followers) hold has been, until now, "never bet against them for too long". This week is looking like it may really break out soon. Silver holders have a powerful manufactured consent that these shorts have to capitulate in the light of a technical physical silver deficit. But these Big Boys have CRUSHED the tech fund buyers time and time again. Well...these shorts are nursing a 1 to 2 billion $ paper loss at these prices and they may well be looking for a flimsy catalyst to crush this pop. The ETF release may be the excuse to put the crush on. My feeling now (certainly not justified by previous price action) is that the buying pressure my actually squeeze them this time. I have been surprised by their tenacity a dozen times before so any hope is colored by sardonics.
Any real break out from this paper weight (futures and options) that sends these criminal comex shorts packing will lead to a HUGE price pop IMNSHO. The ETF could just be chaulked up as another source of demand in an already deficient supply situation. The absence of the dealer shorts is what will allow price to parabole. So..if this is it....then price targets could be absurdly high....and $25 an oz will seem very obtainable.
If a few months from now it languishes at 10 bucks then it will be another day in the neighborhood, deja vu all over again, with us silver hoarders hoping the next pop will be a " Dis is da Big One!"
