DONT CRY FOR ME

I guess what I was getting to was perfectly explained by Gata yesterday:

Today was superb. In addition to suiting their own agenda, The Gold Cartel was hoping to turn the massive gold and silver position longs into massive liquidation sellers. With a $34 drop in gold from high to low and a $2 drop in silver, the spec longs were on the ropes. In days gone by, they would have been annihilated … and both gold and silver would NEVER have lifted so quickly and strongly like they just did.

The gold open interest fell 8757 contracts to 488,722, as discouraged spec longs succumbed to The Gold Cartel’s blatant market raid. The silver open interest dropped too, down 2536 contracts to 130,307. This is VERY bad news for the bums. For gold and silver to come back like they did today, and have the open interest levels in both precious metals still at such HIGH levels, will strengthen the spec long hand. The Gold Cartel is sucking wind with their short positions and they now know it. The onus has shifted back on them

Later