Silver COT Report 1/20/12

The commercials increased their naked short silver positions by a net 1,320 additional contracts (6.6 million ounces) in the week ending 2/17/12, indicating that the cartel is yet far from throwing in the towel in the manipulation of silver. Increasing shorts into price rallies has been the cartel's SOP over the length of this bull run, and we can expect the manipulation to continue until the large commercial shorts step aside on a major price rally, and refuse to add to shorts into price strength.

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