Chart Of The Day: Hedge funds have increased short bets against Silver
This chart of the day focuses on Silver and hedge fund positioning with regard to the precious metal. Reviewing the recent Commitment of Traders report by the CFTC showed quite a few interesting developments, in particular with the precious metals sector. Hedge funds and other speculators (managed money) decreased their net longs to 741 net long contracts, from 42,598 net long contracts four weeks ago (disaggregated futures only).
What was of even more interest for me, bears pressed their bets (gross short selling) close to record highs, as seen in the chart above. Is it possible a short squeeze could mean another rally coming?