This past weekend Bob Moriarty predicted that, while gold and silver may stay in a correction for a while, the pm juniors were finally about to have their day in the sun. While many of my gold juniors rallied today, ECU didn't participate yet. However I think we will see ECU joining the rally later this week. So I am buying a little more ECU now.

Clive Butler is saying to buy silver because he thinks the Cartel that controls the COMEX is in the process of covering their huge short position. I wonder because there is such a large short position that much covering would surely drive up the price rapidly. Anyways Butler is certainly an knowlegeable expert and he says;

"Almost all of my articles over the past several months have cautioned about the possibility of a sharp sell-off, due to the historically large concentrated net short position of the largest traders in COMEX silver and gold futures. I wasn’t sure we would get a sharp sell-off or when it might come, but if we did get one, I was certain as to its cause. The 48-hour, $4 silver sell-off and $100 gold sell-off occurred for one reason and one reason only - the big shorts yanked the rug out from under the tech fund longs. Again.

The only plausible answer was that, in that event, they would position themselves in the most effective and efficient way as possible for the certain coming price rise. That would mean one thing - orchestrating a large price decline on the COMEX. That would generate as much tech fund selling as possible, and enable the dealers to buy back as many contracts as they could and covers as much of their short position as possible. I think that is what has just occurred."

I have a large, for me, SLV ETF position but it is probably a good time to add more.