A flood of new Spec money is flowing into the short side of both Comex gold and Comex silver. I wonder how that’s going to work out for them?
Before we get started, thanks again to everyone for your patience and understanding yesterday. Though I’m a little stiff after repeatedly climbing MamaFerg’s stairs yesterday, I’m no worse for the wear and now today we’ll get back to a regular schedule.
Let’s begin with this open interest and Spec shorting situation. As we began to note last week, massive new open interest was flowing in on down days in the Comex metals. Over time…