Well I don't track C.O.T. much as those Commercials have such deep pockets that I'd never be able to accept the drawdowns they do and wouldn't if I could. I don't do drawdowns at all. But looking at the positions for GOLD the Commercials are 163,117 long and 325,960 short which is very bearish with them being right overall as a rule. I don't see this as bullish myself even if the longs did improve 1595 and the shorts fell by 494 since the last report. Silver is about even with a bias to the bearish side by the Commercials which says little. And DX the Commercials are only 5905 long and 55,231 short. So with DX at major resistance at 81.50 I would think it would sell off 'soon' with the Commercials very bearish as well. I know Ross Clark and Bob Hoye have been talking about DX topping out around 79 area which I never agreed with. I would be concerned at 81.50 though looking at the chart and the retracment point at resistance. Price is trying to breakout over 81.50 tonight but doesn't mean much until it can clear AND hold above resistance. But with high short interest by the Commercial with DX AND Gold both, something has to give. Keep in mind they can and often move "together" at times of extreme fear of economic problems. Think "Euro" problems which could see both Gold and DX move together. So both positions by the Commercials could be correct. What concerns me too is typically you see Silver outperform Gold and this is just not happening. Silver is usually the canary in the coal mine and it is still a sick puppy. So in the end all I go by after looking at all this stuff and analysts is ask myself what the hell the chart is telling me as it doesn't lie or exaggerate. And Gold broke multi year support being the uptrendline, a Symmetrical Triangle, the 150ema and the 200ema. That is very,very bearish and the road back up again is going to be very slow and tough sledding from what typically happens each time. So the upside is limited to 1670 resistance or 1700 max with what I see. Makes you wonder if its worth trading other than quick trades I have been doing now and again. Some day I hope to actually trade a swing trade again without being forced to day trade. Getting sick of it. As far as Investor Sentiment goes I often see wide differences between these numbers as they are calculated in a variety of ways. The "Gold Sites" tend to cherry pick the bullish outlook as they need to always 'talk the talk' or the Gold Bugs will hang them out to dry. I don't generally read articles from Gold sites because of this as you already know what they are going to post. Almost always wildly bullish. So I just put on my bull glasses and make notes. And then put on my bear glasses and make notes and see which one looks the most likely. Nothing much more than that I can do. I do believe the ---- is going to hit the fan now. Hey, take a look at the TVIX which is the double volatility index. It historically hits its low for the year in December. So far its right on schedule. So if one believes there is going to be 'volatility' this is the trade to take and to hell with the others,lol If it gets anywhere near 16 I'll be all over it.