The large commercial shorts are not so scary. Sure, they add to their positions when the gold price rises, and the gold price tends to fall when they reach an extreme level. Like now, 2nd biggest largest large commercial position for 12 months, I think. But the short-covering rallies are great.
Anyway, don't take my word for it. Read Adam Hamilton:
http://www.zealllc.com/2005/goldcot.htm
http://www.zealllc.com/2007/goldcot2.htm
The large commercial shorts are not so scary. Sure, they add to...
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