A lot of the JP Morgan apologists point to another set of stellar results as proof that they are not the big Silver short.
Sorry, the bigger and more complex the company the easier it is to hide, twist and generally make the numbers say whatever you want. It's called creative accounting. Good numbers from JPM mean as much as good numbers from Enron, Greece or any Irish Bank. They have already proven to be dishonest when it comes to accounting even to themselves. (See my post on JPM and their recent settlement in Mass)
Larry Edleson makes the argument that the big boys are taking us for a ride. Run that sucker up and hide the metal in Switzerland etc. thereby creating an artificial shortage. Then as all the fools rush in to buy that silver then you dump all the metal into their waiting arms. Cha-Ching!
It's possible of course. Much like it's possible JPM are neutral or even long on Silver but then if true then their execution sucked. It really, really sucked as they ran it too high too fast and then let the price drop like a rock. Sorry Larry it doesn't even pass the first smell test.