copper leads metal declines as rate rises dampen g, page-8

Hi andrewe. Thanks for posting that article. I only just read it. The following section caught my eye:

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Speculative short positions, or bets prices will fall, outnumbered long positions by 7,302 contracts on Comex, the Washington-based commission said in its Commitments of Traders report. Net-short positions rose by 930 contracts, or 15 percent, from a week earlier
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That's a very bearish sentiment there. This suggests two things to me:
i. in the very short term selling weight will push prices down further
ii. if the majority are now short then hopefully it can't be a long way to the bottom. (they have to close at some point and since there are more short than long there will be a scramble to find people to buy from)