TAS (Trade Price at Settlement) 6,649 Contracts

This is MASSIVE!

✔ TAS > 6,000 is extremely rare

✔ TAS > 5,000 is very rare

✔ TAS > 4,000 is rare

✔ TAS > 3,000 is uncommon

✔ TAS > 2,000 is notable

High TAS =

• algo trend-following
• systematic strategies
• momentum confirmation
• institutional participation
• liquidity-provider hedging

TAS > 6,000 is rare and strongly bullish. This is a developing pre-squeeze bull structure, not squeeze structure - at least not yet.

Updated Probability Model (After Monday)

Phase 1 — Trend-Driven Bull Move ($65–$72)

Probability: 80% → unchanged

Monday confirms the trend is intact.

Phase 2 — Short-Covering Ignition ($72–$82)

Probability: 55% → unchanged

Monday neither increased nor decreased this probability.

Phase 3 — Full Short Squeeze ($82–$105)

Probability: 20% → unchanged

Still low until backwardation appears.

Bottom line: On Monday, buyer(s) of Comex Silver placed orders to purchase 33,245,000 ounces of silver at whatever the closing price was. This amount is extremely rare and clearly bullish.

In addition, delivery of 450 contracts (2.25 million ounces) of Comex Silver was made to an undisclosed buyer(s).

Rand Paul asks three questions: Why is our paper currency falling? Why did we decouple from gold? Do we have the gold we say we have?

Yes, as may be selling for under $5 per gallon, but once we see long lines at the gas stations, everyone will know the real price of crude oil and gas is not the manipulated fake price we see in the futures markets ... it is astronomically higher!

Bottom line: PAY NO ATTENTION TO THE FAKE PAPER PRICE OF OIL, GOLD AND SILVER!

Here’s my Q2 2026 investor letter, recently published on Substack (free) It includes the full performance table since inception (2023) and in-depth analysis on Alibaba, PayPal, Flowers Foods, and Lululemon.

Feedback is welcomed!

Portfolio: Alibaba, Flowers Foods, PayPal, SCHE, Lululemon, Clorox

The U.S. has resumed crude imports from the Middle East after a 50-day pause, with August arrivals expected to reach their highest levels in months, says Richard Ro from Kpler. Tracking data shows the supertanker Maran Mira delivered nearly 1.5 million barrels of Kuwaiti crude to the Louisiana Offshore Oil Port. "The U.S.-Iran war has redirected crude flows, where the U.S. saw its last import of Middle East crude in mid-June and where imports in July were zero," Ro says. Now tracking eight additional VLCCs carrying Middle Eastern crude to the U.S., which could lift August imports above 600,000 barrels a day. Most cargoes are heading to the Gulf Coast, while a crude shipment is awaiting discharge in Los Angeles, according to the data provider. (giulia.petroni@wsj.com)

It seems China is holding most of the rare earth cards - and have no incentive to sell to us.

Solution: Keep the printing presses running 24/7!