shorts heighest in 20yrs - good news!!!

From Short Side of Long
http://theshortsideoflong.blogspot.com.au/2013/04/chart-of-day-silver-shorts.html

Today's chart refocuses on the precious metal sector and in particular investor positioning towards Silver. Hedge funds and other speculators are now so negative on the metal, that the short positions have reached the highest level in the last 17 years (possibly even longer).

So what does this mean?

Judging by the historical price action over the last two decades, whenever speculators have held such enormous bearish positions, the price of Silver was either at or near a major low. Consider the following:
As short bets reached 44,790 in 1997, a huge short squeeze doubled the price in coming months
In 2000 and 2001 short bets reached over 44,000 triggering the start of a secular bull market
Finally, short bets reached 45,163 in 2005 as Silver broke out, rallying for almost three years