NFTRH Update 8.16.13, CoT Data

There was a large spike in commercial short interest and some corresponding speculative long interest in silver as of Tuesday.  We can bet that this condition has intensified since then, given the massive bullish activity all week long.

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We’ll include the graphics in NFTRH 252.

This builds on the case for some kind of a reaction in the precious metals given technical resistance and over bullish sentiment.  They are not going to go straight up.  HUI has support around 260.  We’ll update it all this weekend.

Speaking of which, have a great one!