Large Specs Net Short Gold First Time Since 2001: Buckle Up!

Large specs are net short gold but commercials are still slightly short because small specs are long enough.

Futures Only Gold Futures Positioning

Net Spec Short Position

That Tweet counts Futures and Options on Futures. I posted futures only.

Bill Fleckenstein

Buckle Up

Sentiment

As I have commented before, sentiment is extreme, but it can always get more extreme.

With that out of the way, I think Hickey and Fleckenstein have this correct.

This is an exceptionally good gold setup.

Mike "Mish" Shedlock

Comments
No. 1-10
everything1
everything1

1050 again would be cool, some of us are still trying to build up our personal reserves. I've been just doing 1 oz. a year, holding back for years. Maybe higher rates will bring gold down like banksters say it should. The sentiment or whisperings in the brokerage houses are sell your gold now and buy it back cheaper later, only time will tell.

Realist
Realist

I find this focus on a single asset class misguided. What ever happened to diversification? Also, trying to time a breakout in any market is more luck than skill. How many times in the last few years has Mish said buy gold. Probably too many to count. Eventually he will be right, but at what opportunity cost?

gliderdude
gliderdude

Mish, how long had those large specs been net short at the point you time you cite in 2001? That is relevant point in time to compare to today. Both bits of information would be great.

truthseeker
truthseeker

IMO at some point people will realize that as the dollar continues to get even stronger it will b.bullish for gold as emerging markets are already beginning to experience social upheaval as deflationary pressure from lack of dollar liquidity is making it almost impossible for their banking system to function with the extreme amount of dollar debt!

lol
lol

It's a controlled environment MS,Central Banks and their printing presses control gold (everything),they can if they want print up a few trillion and buy (via Cayman proxy) all the gold,silver in the universe,it is what it is

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