silver...warehouse stocks

  1. 963 Posts.
    Has anyone read anything about the big moves in the warehouse stocks?
    So far this is all I can find.

    SILVER: The silver market certainly showed Thursday that the outlook on the economy is an important fundamental for the bull camp. Traders should also note that COMEX silver stocks fell by a massive 4.69 ml ounces overnight and that could suggest something major developing if more declines are noted. The large drop could simply be a bank moving supplies around and that is why more declines are needed to really give the market a lift. In fact, it might take a decline below 96 ml oz in Comex stocks to make headlines. In the end, the silver market action shows that buyers are capable of pushing this market up on favorable equity market action, even if the Dollar is higher and gold is sloppy. $5.04 continues to be solid support but the silver market probably needs good US numbers this morning and a higher equity market to return to this weeks highs up around $5.23. This market has potential, but its overbought condition is still rather extreme.

    Cheers Ralph
 
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