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 (10)
No. 1-8
shamrock
shamrock

"This is an exceptionally good gold setup." Is it ever not?

thimk
thimk

I don't know, dollar liquidity shortages are appearing. king dollar may portend additional downside.

Six000mileyear
Six000mileyear

I'm looking at long term price/volume chart. The bull(ion) run from 1999 to 2011 was accompanied by rising volume. Trading since 2016 featured all-time high volume that paused a 4.5 year bear market. Volume like this for 2.5 years that results in a slightly positive trend line is not indicative of a new bull market about to break out, but a bear market about to resume.

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

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!