Veteran Silver Traders Know Takedowns

Veteran silver traders need no description of NY takedowns.  They've seen them countless times since 2003.  These takedowns, waterfall declines during the NY session (chart 1), reduce concentrated short positions and the net long as a percentage of open interest (NL%OI) for the invisible hand (chart 2).  The goal is to turn NL%OI positive before liquidity accelerates in defense of the current power structure.

Chart 1: 24 Hour Spot Silver (Bid):



Chart 2: Silver ETF (SLV) and the Commercial Traders COT Futures and Options Net Long As A % of Open Interest


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