Managed Money Shorts Gold/Silver Update


I was forecasting a short squeeze last week when managed shorts were topping out. Looks like silver started to initiate one this week as shorts started to come down.








 http://snalaska.com/cot/current/charts/SI.png



Gold is still lagging, but I suspect a short squeeze in gold is imminent. $1250/ounce is our target next week. Silver is leading gold here.




















http://snalaska.com/cot/current/charts/GC.png





Note how beautifully correlated the large commercials are with the managed money short positions.


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