The COT Data Portends Weakness Followed By Strength Next Week
The COT (Commitments Of Traders) data portends weakness followed by strength next week, see
http://www.cftc.gov/dea/options/deacmxsof.htm. The unusually large (> 10% increase) increase in the normally non contrarian gold Commercial Traders' long position points to some significant weakness this week, as does the significant short selling. They added 13,431 long futures and options contracts and they added 4,472 short futures and options contracts. The net long increase of 8959 futures and options contracts points to strength in the near future, after likely weakness early next week. The contrarian gold Speculators traded net short, which points to strength next week, but the short covering (924 futures and options contracts) points to some weakness. ....... http://www.JoeFRocks.com/
COT gold
http://www.cftc.gov/dea/options/deacmxsof.htm. The unusually large (> 10% increase) increase in the normally non contrarian gold Commercial Traders' long position points to some significant weakness this week, as does the significant short selling. They added 13,431 long futures and options contracts and they added 4,472 short futures and options contracts. The net long increase of 8959 futures and options contracts points to strength in the near future, after likely weakness early next week. The contrarian gold Speculators traded net short, which points to strength next week, but the short covering (924 futures and options contracts) points to some weakness. ....... http://www.JoeFRocks.com/
COT gold
posted by Joe Ferrazzano at
9:35 AM
