Here's graphic that I put together to show what I mean, I took the COT showing the 'Net Short' form the 2004 bottom, the 2008 bottom, and this year, in the past the net short has always increased when gold has come off the lows, howeverthis time it has been decreasing, odd....

    Please note:when you click on the attached graphic, it will appear small because of the light box effect' therefore click on the 'open in new tab' at the bottom left to open it up in a separate browser window, you can then click on it again to expand it to full size.

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