COT and the Cdn Dollar Bulls | Black Swan Capital

Does a 91% bullish reading makes sense for the Canadian dollar? According to the latest Commitment of Traders Report for November 6th, speculators are positioned 91% long Canadian dollar futures (or short USD/CAD in the spot market); that is down 1% from the reading on October 39th. Does that seem high to you?       Currency Currents 13 November 2012