Golden Powder Keg

"Trust me guys...duck!"
--Zeus (Die Hard With A Vengeance)

Bearish sentiment in gold has rocketed higher as prices have plummeted. Currently small specs and hedge funds are short gold futes in record amounts.

Meanwhile, commercials are less short gold (they are rarely long) than they have been in a long while.

Lop sided sentiment and record shorts by groups that typically get it wrong at the extremes suggest a powder keg has been wedged under the price of gold.

position in gold