Silver About to Blow-Up???

from: http://harveyorgan.blogspot.com/

 snip:

Please note the massive 12267 contracts which represents  61.335 million oz that are standing today.  (Thursday). Also remember that OI is always 24 hrs behind which is why we must wait until today as generally everyone that wishes to stay in the game must have already paid.  If they did not wish to pay up, then they would roll to a future contract and continue to play in the silver market for another 2 months.

Note the small contango in the March to May roll of only 2.2 cents. It costs nothing to roll and yet a massive amt of silver is standing.

One must also add the 4.6 million oz of silver options exercised in the Feb contract. Thus, in total it looks like 66 million oz of silver is standing!!!

Also, any options exercised for the March contract will be given a future March 2010.  Generally, these guys take delivery and their totals will be included in tomorrows OI for March.

It looks like the comex boys will start to ask the longs if they would like to get a 25% premium for taking cash.  This is an absolutely huge number of oz of silver standing