It would make sense. Just when they have convinced the average investor that "gold only goes down", and everyone and their grandmothers are making money by shorting GLD and SLV... that is when they turn around and come back in long.

All I know is, gold will never go to 0, so shorting it, you can never make 100% on your investment. However, currency can go to 0, and as shown in my graphs from before gold can go much higher than 100% in such a currency.

-Hysteria