**Very Important CTA (Pre) Sell Season Comment
It could be the biggest “Buy Season” ever
Housekeeping: Good afternoon. A version of the following will go out to Premium later this week
If Gold and Silver weather Sell-Season this year; It could be their biggest “Buy Season” ever…
Selling should come in below $2435 in December Gold
Silver is more tenuous…
Both Gold and Silver CTAs are max long right now.
CITI’s very current take on Gold/Silver is at bottom
That is all very bearish historically… but the past is definitely not prologue anymore. Read on why. The pciture will maek mroe sense as you read on
Gold, Wildebeests, Oil, and Beachballs….
CTA Wildebeest Behavior
Historically CTAs have had an outsized effect on Gold and Silver as the bigger funds were reticent to play in metals due to their proclivity to be manipulated. The result was, CTAs had too much open interest as a percent of total and were easily bullied by Bullion Banks.