Speculated China is behind this huge amount of contracts for March, probably both sellers and buyers. Are they trying to bust the COMEX by demanding delivery in March? In the mean time these March contracts might be acting to keep the price down while China accumulates physical now. If in March COMEX is forced to admit they do not have enough physical silver against all the paper, they may default? In this event, I assume, they would seize all the silver and pay depositors out with cash. This would be bad for the depositors as the price of silver would sky rocket thereafter and down the track you would think COMEX would go back in business as a result. Is China flexing its muscle here? JP Morgan have moved their shorts to off-shore banks, the relationship of which is unknown. Interesting times ahead. If the COMEX looks to be squeezed this March you can bet your bottom dollar people will catch on in February, even now, and we may see a sudden spike in silver. Interesting times ahead. Some food for thought.
New highs for CCU today? Could give it a crack you would think. Silver spot above $ 30 an ounce could see it move thereafter to new highs.
Hoping there is no capital raising to slow any possible momentum that might be coming our way.
All my opinion and can well be wrong. Good luck all holders.
CCU Price at posting:
64.1¢ Sentiment: Buy Disclosure: Held
