JPM was short until about 10 days ago, BIG short.
They sold their calls and went long....
Monday could go either way.
CME and big players, maybe even .Gov will be trying to crash it back to 50. They're already raising margin for longs. They'll keep raising it and try and get them to blink and sell.
There's a lot of $$Billions on the line and they can't deliver physical. It doesnt exist.
Demand is huge for delivery.
Anyone's guess. If they can't break the long holders, it could see $100-$150 next week
J.PMorgan engineered this silver "play ground". They did the same thing that the Hunt Brothers did.
That is to sold paper silver for hard hard silver. They have always had 750 MILLION oz troy all the time!
This will bring out all of the silver ware left from 1980 as well as Grand Pa's old coins. The funnies part
is the numismatic value has been lost to a lot of coins! Now one can see how the value of a loaf of bread
will cost $20. (Euphemism)