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Signs of a shortage at the comex?
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Thread: Signs of a shortage at the comex?

  1. #1
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    Feb 2009
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    451

    Default Signs of a shortage at the comex?

    Harvey Organ

    Yesterday, we had 1621 contracts of OI left to be served. A total of 148 notices were sent out.

    We should have 1473 left to be served. Instead we got 1513
    Somebody wants silver in a hurry and are jumping queue for it.

  2. #2
    Join Date
    Feb 2009
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    451

    Default ... confirmation

    From another forum

    As of yesterday, there are 1,513 OI contracts left to deliver physical silver by the end of Sep 2010 (each contract stands for delivery of 5,000 ounces of physical silver).

    2 days ago this number was at 1,621 with delivery notice of 148 contracts so yesterday’s OI contracts left should be 1,473 (and not 1,513).

    This already provides us with first interesting discovery…

    …that actually there were additional buyers of Sep 2010 contracts that got scared of waiting on Dec 2010 (next delivery month for physical silver) and are panicking to get their physical silver already this month.

  3. #3
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    Feb 2009
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    451

    Default Comex Paper Silver Buyers Want Physical Badly

    Amazing is a good word to describe what’s going on in this delivery month for physical silver at Comex.

    Non-logic stuff regarding Comex silver, I’ve already start reporting on Sep 2nd 2010 at Comex – Where Is Your Physical Silver.

    More or less, every day of this month new buyers are adding Sep 2010 silver futures contracts and they are anxiously waiting to get their hands on Comex physical silver.

    Since Comex dealers took a lease of 2.3 million ounces of physical silver from Comex customer inventory on Sep 7th 2010, there were additional 548 silver contracts added – equaling 2.24 million ounces!

    Last 3 business days in a row, new silver contracts popping out (519 contracts exactly), that wants their hands on Comex silver by the end of this month.

    Yesterday alone, 230 additional paper silver contracts were added to deliver physical silver by the end of September 2010.

    No wonder price of silver yesterday finally closed above $20.

    Now, who decided yesterday to demand additional 230 contracts = 1.15 million ounces of silver?

    Frankly, I don’t care who, as long as there are investors out there wanting to end this Comex paper fraud by requesting physical silver delivery NOW.

    Comex physical silver delivered so far in Sep 2010: 1,571 contracts

    Left to deliver by the end of Sep 2010: 1,500 contracts = 7.5 million ounces of PHYSICAL silver
    .

  4. #4
    Join Date
    Feb 2009
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    Default

    Quote Originally Posted by Matthew Shelley View Post
    I'm one of those people who is limited to facts, so wild eyed stuff will not be a part of the conversation.

    Matthew C. Shelley
    Commodity Broker
    Thanks for being here Mr. Shelley!
    In my previous post there are a lot of numbers (facts).
    Provided that they are accurate, what are your thoughts about? Business as usual or something unusual at the comex?

    Thanks again

  5. #5
    Join Date
    Dec 2009
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    Chicago
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    4,376

    Default

    Quote Originally Posted by goldsilber View Post
    Thanks for being here Mr. Shelley!
    In my previous post there are a lot of numbers (facts).
    Provided that they are accurate, what are your thoughts about? Business as usual or something unusual at the comex?
    Thanks again
    I'll take a look at your numbers when I get some time, but a key to commodities delivery is that delivery is at the discretion of the seller. This means that unless it's the last delivery day, the amount of longs may not be the actual amount of desired deliveries. When I was doing arbitrage we were often long a lot that we didn't want to take delivery of and were trying to offset ahead of the stoppers. Our main concern was how far forward the the trade dates were as oldest trades get delivered first. Most Silver and Gold deliveries are certificate deliveries first and a much smaller percentage of physical deliveries second, so that is another factor to consider. Most professional traders would avoid the physical side because you could be facing a re-assay if you take it out of registered stocks.

    The silver is there if you want it, most don't.

    Matthew C. Shelley
    Commodity Broker

    As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.

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