re: further congestion ? in s&p chart
If the "short position on the S&P" is so obvious to all the Joe Public readers of trading newsletters at the moment, why then are the E-Mini S&P500 Commitment of Traders figures currently reading:
Small Investors..... Long 319,460 Short 35,629
Commercial Investors..... Long 114,620 Short 344,961
ie 10 longs for every short for Joe Public versus 3 shorts for every long for the Instos!! I would think that Joe Public will bail out well before the Instos and hence the greatest risk remains for those holding long positions.
