Truly, This Is An Anomaly!

in investing •  last month  (edited)

  Great and Wonderful Thursday Morning Folks,    

      Gold is lower in the last hours of trade in London with the value at $1,278.20 down $1.20, recovering from the low at $1,275.20 with the high so far at $1,280.40. Silver is leading the early morning dip with its trade at $14.905, down 9.1 cents and right beside the low of $14.895 with the high right at the magic marker price at $15. The US Dollar continues to be rallied, in fact the value is the highest since April ‘18, with its trade at 98.015, up 16 points and right beside its high at 98.02 and a low at 97.715. All this of course was done while we sleep, before 5 am pst and way before the Comex Open.     

      Venezuela’s currency now has Gold priced at 12,766.02, a gain of 41.94 Bolivar with Silver at 148.764 Bolivar, it too gaining .251. Argentina, another nation under emerging market currency stress, now has Gold priced at 56,016.66 Pesos GAINING 200.658 overnight with Silver GAINING 24.348 with the price now at 654.705 Pesos. Once again, these contracts control 100 ounces of Gold and 5,000 ounces in Silver. Our belief is these price swings will happen in the primaries soon enough, so get ready to get your game on!    

      Silver’s April Deliveries are all but dead with the demand count still at 1 and with zero Volume up on the board. Ag’s Overall Open Interest dropped 5,521 Overnighters during yesterday’s rally with today’s activity all focusing on the May Options expirations then the rolling over into May’s Deliveries, where the Open Interest in this contract still remains quite elevated at 44,669 contracts or 223,345,000 ounces standing in the way. There are 20,483 Call options in May Silver with a much smaller amount of Put options that will be either closed out or exercised into contracts making the next day or 2 interesting (we hope). Maybe we’ll see some excitement going into next week.     

      I wanted to add a bit more data to yesterday’s missive regarding the Open Interest in the July and December 2019 Calls and the other months available. Already mentioned is Mays OI in Calls at 20,483. July ’19s count as of yesterday’s close is at 51,180, Sept ’19 has 4,621 Calls, December ’19 has 60,116 Calls, March 2020 has 73 Calls, July 2020 has 485, and December 2020 has the most at 1,007. These July/Dec 19 option purchases were done so long ago that many have ignored the issuances. They had to be placed for a reason and by those who need to have the leverage regardless of the costs. The only question is why are the others months not showing ANY reasonable gains? Truly this is an Anomaly! 

      Deutsche Bank has been in the courts these past few years charged with manipulating Silver, Gold, Currencies, and Interest Rates, with almost no coverage by any media source as to what has been found so far and in depth. If they do report, it’s usually fluff written by special writers with a paid for bias. Today we find that the Deal Talks Between Deutsche Bank And Commerzbank Collapsed adding some intrigue to the currency crisis we’ve been reporting on for a while. Then we have another currency crisis popping today as the Krona Crashes After Riksbank Capitulates, Extends QE, Delays Rate Hike Plans, just after the Bank of Japan "adjusted" its forward guidance, saying it will keep extremely low rates at least through around spring in 2020.     

      We’ve waited so long to see if this issue in precious metals options has a purpose, and we’re getting closer and closer to seeing the July ‘19’s either prove or destroy the thesis making me look like a true idiot or a lucky observer. Harvey Organ’s EFP’s and Q jumps to London happened during this time period between the options purchases and now as well as the court cases involving manipulations. Now I wish I had the historical options information within the emerging markets of Venezuela and Argentina’s options board to see if this anomaly occurred there too before their rocket launches in precious metals. This move in Argentina’s Silver position gained $120,000 in a day. One day et tu, will be in the primaries. Are you prepared? We sure hope so, so have a great day, keep the attitude positive no matter what, and as always …   

Stay Strong! 

J. Johnson  

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Argentina getting hotter under its currency crisis