"Greed is the inventor of injustice as well as the current enforcer."
Julian Casablancas
I will be interested to see how traders square up tomorrow ahead of the weekend.
Here is 'the lay of the land' as we head into the month of August next week.
The first chart shows just how silly the trading at The Bucket Shop has become.
The next shows the results of the attempts to knock down the open interest at Comex. It has succeeded a bit, but these lower prices taken to shake out the bulls are not enticing many to put their actual bullion up for delivery.
Deliverable stocks are at a low and therefore the 'leverage' of paper potential claims to available bullion is still rather high at 116:1.
Sentiment has gotten silly low with the momentum boys piling on, and activating their opinion bots to enhance their trade.
Have a pleasant evening.
