"Even in recent years with gold and silver facing howling headwinds from the Fed-distorted stock and currency markets, the futures-short-covering episodes fueled large double-digit gains unfolding over a few months or less. And given today’s record levels of shorts, the next short-covering frenzy is likely to drive considerably-larger rallies. They will greatly improve sentiment, getting even investors interested again."
http://www.silverdoctors.com/record-goldsilver-shorting/#more-55972