Peter Tung

[Peter Tung @ventmizer102]

@garysavage1 I looked up and down that COT report and still couldn’t find any evidence of any cartel. That’s including commercial segment. They are producers and selling their production output.

[Peter Tung @ventmizer102]

@garysavage1 When the net long of non-commercial goes up, price of silver goes up and vice versa. Are these the cartels? Spoofing happens and so are stop loss hunting but what cartel? Is that real?

[Peter Tung @ventmizer102]

@garysavage1 I stand to be corrected, yes, commercial are the net shorters I miss that by a digit. You’re right

[Peter Tung @ventmizer102]

@garysavage1 I just can’t follow this so called cartel in silver futures trading. The COT data shows the reported holdings of the producers end users as commercial, speculators as non-commercial and the retail investors the small guys. Where does this do called cartel reside? 175,000 O/I ??

[Peter Tung @ventmizer102]

@garysavage1 Checking your so called commercial that’s hiding the shorts, well as of the three years I’ve tracking the weekly COTs commercial long 36.8K, short 11.6K that’s July 22 net long as you can see back all the way. Come on.

[Peter Tung @ventmizer102]

@garysavage1 That’s how the supply and demand affects the price. Non commercial sold their net long so the price came down. Where’s this cartel? Make believe stuff.

[Peter Tung @ventmizer102]

@garysavage1 It’s not in the COT report, all longs have to paired with the same number of shorts to make a contract. There’s no banks, all in the make believe. 170Kcontracts. Last Friday silver price dropped,O/I dropped by 2.5K. Net long in non commercial likely dropped.

[Peter Tung @ventmizer102]

@garysavage1 It’s not looking like it’s happening Gary. I’m expecting a retest of the previous low soon.

[Peter Tung @ventmizer102]

@garysavage1 Total open interest in the neighborhood of 170K contracts and all called for. I just can’t follow some hidden away shirts anywhere. Please explain

[Peter Tung @ventmizer102]

@garysavage1 Gary, I have noted your continual reference to the cartel, the COT I track weekly for changes to net long position of the speculators and get a more updated estimate via open interests changes and deliveries. I can’t see any net shorts that’s not reflected.

[Gary Savage @garysavage1]

There's still plenty of days left in this daily cycle for the market to finish a 4 YCL by breaking this trend line.

Usually it not only breaks it but also drops significantly below it. When this happens the selling pressure infects everything. Nothing is safe (except maybe the dollar which should bottom any day now).

So don't assume metals that have been resisting will continue to resist. They never have when we get into those final 5-10 panic days where traders are selling any and everything.

Just look at what happened to miners during the 2020 4 YCL.

[Peter Tung @ventmizer102]

@HugoVale_ @LeadingReport Clown to clown interactions, Trump calls someone nicest person one second and you know what he says next, all clowns as much as I can fathom.

[Peter Tung @ventmizer102]

@garysavage1 I have to agree with that a 100%

[Peter Tung @ventmizer102]

If China wants Taiwan it should also take back land from Russia, president says https://t.co/7xjwsY4zy8

[Peter Tung @ventmizer102]

@mrtweetusa 99

[Peter Tung @ventmizer102]

@wanjunxie I thought he showed himself to disprove your rumors.

[Peter Tung @ventmizer102]

@garysavage1 No more lower low in silver now you’re saying?

[Peter Tung @ventmizer102]

@wanjunxie Hallelujah hallelujah

[Peter Tung @ventmizer102]

@garysavage1 In silver, the Open interest has been declining for a good week or more and is now at a pretty low level. It is ready for a reversal based on the rate of dropping. Hence, I think this is the best opportunity to buy the dip. We shall see soon enough.

[Peter Tung @ventmizer102]

@wanjunxie That’s probably a wrong conclusion. He just doesn’t want to be the one being associated with the bad economy and having no solution to 指名方向