MLSOFT, Surprisingly (to me), the 'smart money' increased their short PM futures positions again last week. Whodathunkit? Au + 3662 to 143,666 = +2.55% Ag + 5048 to 67,845 = +7.44% The Swiss Frank (not shown) short interest also increased by 1205 to 41529 = 2.59% Should be interesting to see how this works out. Are you hearing anything about some 'big' longs wanting to take deliveries against the Jan contract? Committment of traders report(COT) <A HREF="http://www.cftc.gov/dea/futures/deacmxsf.htm" target="_new">http://www.cftc.gov/dea/futures/deacmxsf.htm</A> Regards, Dan