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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: #Breeze who wrote (27147)	1/27/2026 3:33:52 PM
From: CrashDavis	Respond to of 27167

All Eyes on Shanghai: Silver Rally Driven by China Interesting silver piece at the link from Sprottgold Implies spec traders are trying to pick a top and the commercials are covering shorts and going long key excerpt: COT Report Reveals Commercial Buyers Driving Rally![Image 4 - COT Silver Report](attached image) Look closely at what you see above and note: The Large Speculator category SOLD 4,372 longs and added 2,474 new SHORTS. That's NET SELLING of 6,846 COMEX silver contracts. On the disaggregated report, see that the Managed Money category saw selling of 2,187 longs and an addition of 1,659 shorts. Even the little guys—the Non-Reportable Positions—saw 2,057 contracts of net selling. Opposite of that, the Commercial category ADDED longs and COVERED shorts. Specifically, the Producer/Merchants nearly doubled their long position while covering 3,689 shorts and the Swap Dealers reduced their NET short position by 3,148 contracts too. So again: What you're seeing on COMEX is NOT a massive speculative binge nor is it some sort of Hunt Brothers attempt to corner the market. Instead, Speculators are getting duped into being short while the usual shorts—The Commercials—are getting squeezed and are adding longs. Putting it all together, we're back to the thesis of this post. The rally in silver is NOT a western-driven speculative bubble. Instead, it's a rally that's emanating from China on very real physical supply concerns, and as long as those concerns remain, the rally should have staying power.