dan, i believe that figure for gold com shorts is a high not seen since 1996 when it spiked up to 180,000. their shorting in gold has significantly slowed the last two weeks. maybe reaching a high point. silver com shorts shot way up. did you see the sell off in gold shares mid day? wonder what some of the chasers who bought over the last week will do if we get a dip. no one can continue to claim that the PM sector is off the radarany longer. even fleck hinted it may be time to consider taking some profits in "trading" positions. can't believe i made good money today in tech stocks. what a crazy market.
That the commercials short interest went up should be no surprise. They have not yet given up and begun covering and until they do so they will continue to sell into the market in an attempt to hold the POG down. It is still possible that they have enough bullets to be successful, but the odds are beginning to be stacked against them.
The selling late today suggests that they increased their short position even more and this will be a daily game until gold completes it breakout. A solid breakout will force some covering, I would think.
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