this is from ted butler's latest, dangerous parallels:

The latest data contained in the Commitment of Traders Report (COT) indicates that the big concentrated shorts (JPMorgan) may be making a move to close out as many silver short contracts as possible. For positions held as of the close of business April 24, the total net commercial short position, as well as the net concentrated short position are at levels that, effectively, rival the extreme low readings of past important price bottoms. The message of the COTs is that the lower the total net commercial short position, the lower the risk and the greater the potential for a price rise.

Perhaps significantly, I detect a recent pattern that suggests that the big concentrated short (JPMorgan) is behaving differently than it has in the past. This could have important implications for the price of silver. The data indicate that the big shorts are buying not only when the price of silver declines, as they normally do, but also on price rallies, something quite rare. I have been on alert for this change in behavior for some time and I am sensitive to it.

My premise is that there is only a limited amount of long liquidation by leveraged technical traders that can be engineered through dirty tricks by the big shorts that enable those shorts to buy back many of their short positions. Even after the big manipulative shorts force every possible long leveraged derivatives holder from the market, there still remains a residual derivative long position that can’t be liquidated by intentional and sudden artificial price declines. This core long position has grown large enough over the years, as more investors become educated to the real facts about silver, that even at bottoms in price, the concentrated short position is still enormous. This is what I mean when I say the big shorts are trapped.

http://news.silverseek.com/TedButler...