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Harvey Organs daily gold and silver report

This is a good read. If you have not accumulated your physical silver you may want to do this as soon as possible. Please read the whole article. I received Ted Butlers update today. Both of these reports differ slightly. The leveraged longs have been wiped out. The next upleg in price should start soon.

Tuesday, January 25, 2011Huge Drop in comex gold open interest, huge deliveries on silver/
Good evening Ladies and Gentlemen:

Gold closed today down $12.20 to 1332.30. Silver fell by 51 cents to $26.81. I promised you a raid and a raid by the banking cartel was in full bloom today. Tonight is the State of the Union speech; tomorrow at 2:15 we hear again from the Fed on QEII which I guarantee you they will continue with their printing presses and tomorrow night is options expiry on the gold contract. The gold contract goes off the board but will trade until all longs that are standing are satisfied.

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what is your opinion of the

what is your opinion of the record open interest drop in gold yesterday? is that affirmation that the weak longs have been annihilated?

Some things ive been curious about - how much average annual deliveries have been exercised in silver and in gold in previous years? harvey has been updating daily on how amazing delivery options for january have been this year, but considering i have nothing to compare that number of almost 4 million ounces, its a hard figure to appreciate.

Also - while i think we're probably due for another pop up in metals soon just by my amateur intuition, but my equally amateur chart analysis skills would tell me that its sill just a spike in what will probably be a continuing downward trend in metals. it looks like what happened in 2008 only more amplified.

I wont be too happy if i was too hasty and couldnt wait for a 22$ PoS correction to occur (with myself), but i would be equally as unhappy if i couldnt actually find any available silver on the market in 6 months time at 22$ an ounce that wasnt more than just a few ounces. i suppose time will tell how it all unwinds.