bill murphy comments on the silver market:

Been trying to reconcile what Ted Butler says; i.e. that JP Morgan is covering some of their massive short positions vis-à-vis the silver market action, which clearly shows the silver price managers are as aggressive as they have ever been. This seems like the real deal to me…

"The pattern seems to be changing - they are definitely selling through their London desk as well now, and that is the word on the street in London too. It is probably intended to confuse and mask in the event of investigation, and it has to be said that these thin volume days are an absolute gift to them. I guess all we can hope is that they do not get fully covered and then get taken to the cleaners later when the volume returns, as it is surely going to. You may have seen the indices this morning - the market does not believe a word of this recovery, but what I don't understand is why the american public just lies on its back with its legs open - I should have expected with all the heartache and desperate deprecation that the mood would be getting a little ugly by now."
David

Could Morgan be selling in London to cover silver shorts on the Comex? For a few hours it looked like that might be the case. Silver rallied to $18.31 with gold making it back to $1200. Close, but no cigar … business as usual. Silver was sent right back down and in short order. As Ranting Andy rants all the time, gold and silver are NEVER are allowed to put in Comex key reversals to the upside at strategic moments.