Friday night saw the release of the COT report. Let us see how these positions will effect trading next week: (the report is from Tuesday to Tuesday/week ending May 1.2012)
First the Gold COT:...
Our commercials:
Wow!!!
Those commercials who are long in gold added a rather large 4590 contracts to their long side.
But...and it is a big but...
Those commercials who have been short defied all logic and added a super humongous 15,356 contracts to their short side and this is done in broad daylight with all of the regulators cheering them on..
Conclusion: as far as I am concerned we have a crime scene as the shorts have massively increased their shortfall and on Sunday after the two elections, the world financial scene will probably go haywire! In a nutshell the huge increase in the banker shorts is very bearish and will signal another huge raid..."
At http://harveyorgan.blogspot.com.au/
getting set for another paper raid on gold?
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