“As far as Friday’s COT report, without putting actual numbers on it, I will be surprised if we don’t see the biggest reductions in managed money long and commercial short positions in months. Additionally, Friday’s Bank Participation Report should help clarify JPM’s silver short position. While I’m sorry I didn’t sidestep this blatantly engineered sell-off, the truth is I would have also reentered just as quickly given the signs emanating from the March silver delivery month and my still open premise about a partial managed money liquidation. At least there should be no question about why we’ve moved lower.”
A small excerpt from Ted Butler’s subscription letter on 08 March 2017.
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