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Gold/Mining/Energy : Silver prices
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To: Abner Hosmer who wrote (359)12/31/1997 3:38:00 PM
From: RagTimeBand  Read Replies (1) of 8010
 
Hi Thomas

Seasons greetings to you and yours.

Thanks for the URL to D.A.'s comments.

FWIW
RE: COT data for Silver
The commercial hedgers don't appear to be very enthusiastic about the recent move in Silver prices.

Looking at data that goes from Jan. 15, 1986 to Dec. 16, 1987 the mean Commercial Hedger position is -36,103 and the std. deviation is 14,127. Thus, as of Dec. 12th, when the net commercial position was -62,367 -- they were approaching 2 standard deviations (actually 1.86) from (below) the mean. This is the lowest level the commercials had held in over 3 years.

For the Dec. 16 report they were at -55,866 which is still 1.4 std deviations from (below) the mean.

Regards - Emory
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