don't know how to copy the chart so here is the link
http://moneytalks.net/index.php?option=com_content&view=article&id=3478:big-gold-shorts-covering-reducing-bets-gold-will-decline-further&catid=48:daily-updates&Itemid=88
Got Gold Report – Big Gold Shorts Covering Again
This week’s Radar Screen
The purpose of the Radar Screen is to briefly summarize our positioning for the gold and silver markets, and also to highlight one, two or maybe even three of the dozens of indicators, ratios and graphs we keep in constant touch with at Got Gold Report. Long-time readers know we update most of the Got Gold Report linked charts each week, even the weekends when we don’t publish the full report.
For a little while longer, readers need only pull up the last full report and click on the chart links on “off weeks” to see any updated comments. Changes are almost always completed by 6:00pm EDT on Sunday evening and occasionally during the week itself as events unfold.
At some point in the near future, however, all of the chart links will have to change as we transition to a new permanent web home for the Got Gold Report, which should allow for a lot more of our analysis to be available for our valued readers. And, in a more timely, more immediate fashion. We’ll have more about that soon, hopefully, so stay tuned!
Back to this week’s Radar Screen: Having returned to the gold bullish camp on February 5, with gold then in the $1,050s, we began the last full report two weeks ago with: “We remain long gold and silver, currently with trading stops equivalent to the minor-profit low $1,080s for gold and the no-loss $15.90s-equivalent for silver. We are still of the mindset to allow for more than normal volatility with these fledgling trades, but we are unwilling to allow our “winners” to become losers and will step to the sidelines if stopped.”
That’s where we remain positioned as of March 26, but we will likely be raising stops for the silver portion of the trade later this week – if and only if silver regains and holds the $17s. The particulars are in the linked graphs below.
Otherwise we are comfortable with our positioning, which allows us to participate should gold and silver advance, but gets us out with minor profits or at least no loss if the Trading Gods are not yet with us.
This week we first want to call attention to what we see as interesting changes in one of the most important indicators in our gold arsenal, the positioning of the largest of the largest gold futures traders in North America. Then, we’ll take a look at the latest move higher for the U.S. dollar in a longer-term context. Then, finally we have a few comments on the Commodities Futures Trading Commission (CFTC) open meeting held Thursday, March 25, but first, here’s the short-term gold graph:
....view bigger chart and read more HERE
