RE: RE: SFMINice post Sigma....and I totally concur. On the broader scale of fundamentals...the water is coming to a boil.
Sinclair: Gloves About To Come Off For Gold Stocks
Individual gold stocks and gold stock indices are beginning to break out of long-term consolidations without much attention. The heavily followed Amex gold bug index sits above important resistance at 479.35. The gloves will come off quickly over price once the computers and hedgies start buying en mass after technical confirmation. The setup of "three taps and out" is nearly complete.
Ed Steer:
There was absolutely no sign that any bullion bank was covering short positions in either metal during the prior week…The Commercial net short position is back up to 296.9 million ounces of silver. The '4 or less' bullion banks are short 244.0 million ounces... and the '8 or less' bullion banks are short 321.8 million ounces….or 10,000 tons.
In gold it was just as ugly, as the bullion banks went short against all comers…The Commercial net short position in gold is back up to 28.5 million ounces. Of that amount, the '4 or less' traders hold 20.4 million ounces short... and the '8 or less' traders are short 27.2 million ounces…844 tons.
Imagine covering that!