Harvey Organ's Daily Report - Judge orders documents on the Fed filed with her...big victory...open interest in silver remains strong:

http://harveyorgan.blogspot.com/2011/01/judge-orders-documents-on-fed-filed.html
Judge orders documents on the Fed filed with her...big victory...open interest in silver remains strong:

Good evening Ladies and Gentlemen:

Today was quite a day. Gold closed up by $5.10 to close the comex session at $1373.70. Silver finished the day up 19 cents to $28.95. In the access market right now at 5 o'clock est the gold price is trading at 1376.20 and silver is now $29.11

Gold and silver should have a stellar day tomorrow as the banking cartel are a little weary with all of those finger pushing exercises in shorting the precious metals.

Let us go straight to the comex trading and see how things shape up for tomorrow:

First gold;

The total gold comex open interest fell by a very tiny 2,721 contracts with the reading of today at 581,199. Friday was the 4th day in a row for whacking and it seems it had no effect on the resolute longs. The banking cartel are miffed.

The front options delivery month of January saw its OI fall from 28 to 22 for a loss of 6 contracts. We had 5 notices which therefore took all of the fall in open interest. The more important front delivery month of February saw its open interest fall from 329,289 to 318,383. The bankers were hoping that more would roll out of the front February month. The estimated volume today was a very modest 164,801. The confirmed volume on Friday with the massive raid was a huge 263,192 contracts with minor rolls into April.

And now silver:

The total silver comex open interest fell by a tiny 2212 contracts (from 139,291 to 137,079.) This is basis Friday night. The bankers when they saw very little silver leaves fall from the silver comex tree, they decided to raid again today but that turned out to be unfruitful for them. The front options delivery month of January saw its open interest (OI) fall from 153 to 88 for a loss of 65 contracts. The delivery notices on Friday totalled 85 so all of the loss of OI was due to the delivery notices.

The front delivery month of March saw its OI fall by 2449 contracts (75,298 from 77,747). I will talk about the month of March in the body of my commentary. The estimated volume today was a healthy 46,936. The confirmed volume for Friday was a huge 92,766 with minor switches. This annoyed our bankers greatly.

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