...at the end of the Midas Report:

"We have all been moaning and groaning, and rightfully so, about the gold/silver share action. Many of us on Planet GATA have looked at maligned selling by The Gold Cartel, hedge fund selling against physical positions, and general public apathy as potential reasons for the dismal share action.

There is no doubt in my mind that aggressive short selling by various entities is a reason for the debacle in many stocks. Today, my largest share position by a long shot, ECU Silver, suddenly bolted higher after acting horribly for YEARS. There is nothing better than a share price doing what an ECU did today (94 cents, up 17.5%) with the bullion prices hit hard and most of the shares under pressure.

I am going to touch on what might be going on because it is likely to be a precursor to what is going to occur in numerous gold/silver stocks in the months ahead, albeit for different reasons.

On Friday (in something I never do), I noticed that a long time short seller named Jitney bought about 80,000 shares of ECU at 80 cents Cdn, ONE HOUR after the close. At least that was the way it was posted. Didn’t know such things were done. That was the high of the day.

Today the price was bid up in the pre-open, and then hit stops early, rising to 94 cents. After a selloff, the share price came back and closed right on its high of the day.

Now, I have been waiting some 10 weeks (big picture: 10 years) for drill results from the drilling of their massive sulfide below the surface, which has already led to 420 million silver equivalent ounces. The massive sulfide is supposed to be the mother load. So what happened very late Thursday and mostly today? Are the long awaited drill results coming out this week? Are they that good? How could the shorts know, IF that is the case? I will leave it at that.

The point is there are MANY outstanding gold/silver firm whose share prices have stunk up the place. It is my opinion that one by one these shorts will get blown up unless they cover very quickly ahead of a coming gold/silver share bonanza period. That period could very well kick in when the coming US economic stimulative measures are announced. It can’t happen soon enough for many of us Café members.

The XAU lost 2.26 to 191.47 and the HUI fell 6.92 to 501.47.

As aggravating as today was, it is still all NOISE. The reasons for gold and silver to soar are getting better, not deteriorating. The bums have had their day, but it will be a short-lived victory. Their war is LOST!"