It’s Monday! Time for another Fat Pipe, let’s dive in:
Silver and Gold New Higher Highs
As a long-time silver and gold accumulator, the moves we’re witnessing today are leaving me a little bit nervous and slightly disoriented.
Last night, both went up again during Asian trading hours:
As usual, when we peer at the action more closely, we see a very typical pattern of late – Asia buys, “someone” tries a slam sometime after midnight, but that slam doesn’t do much more than prevent silver from going a lot higher.
The losses are becoming quite serious for “someone.” These are big boy numbers. Since Nov 24th, the accumulated losses by the silver shorts is a staggering $14.5 billion
At least on paper, and in their brokerage accounts, where more and more margin has to be posted to cover the losses which will have to be recognised when the positions are closed out.
Quite oddly, or perhaps ominously, those carrying those losses are not backing down. Instead, over a year in which silver has exploded 133% higher, for some reason, the silver shorts figured that would be a good time to increase their collective shorts by nearly 14%
(Source)
As I said, they are not backing down and they are nursing enormous losses.
by davefairtex 
