Metals, Ag, Energy Update

Will the fourth attempt at old highs fail or do we break out. To me it looks like  a perfect set up for a breakout given the political back drop in North Africa. OI at the comex is rising it rose yesterday by over 3800 contracts, and there was some short covering by the banksters. But Silver is where the real action is! 

The collective short position of all the banks is around 7 billion oz. This is made up of 4 billion oz in forwards which is the actual borrowing of metal and selling it forward, and 3 billion oz of naked calls against non existent silver. The Shorts are getting hammered, wonder when they will start running for the hills. We havent had a high volume day, blow-off day. I have been trimming my SLV position out of fear, but I like it that I am uncomfortable at these levels. Waiting for that big day with price and volume spike to sell half of my positions.

Ag stocks out performing SPX during sell-off

Energy Stocks have been superstars in this run, feels like 08

Picked this up again last week, sometimes you just have a feel for a stock and I don't know why but i am in tune with this one, see previous post. The secular bull in Uranium miners continues, but other than CCJ, you can't just hold these I think cause they are like bottle rockets, they fly and sizzle and it can be scary to not lock in gains. I think as before this goes to 7 or higher. This next leg should take it there.