Similarly on silver, the COT chart below shows the commercials are quite heavily short, while the small speculators are on the long side of the trade. Sometimes the commercials get it wrong, but that isn't normally the way to bet.
Kim Rice 12/16/12
Sunday, December 16, 2012
Commitment of Traders - E-mini S&P and Silver
The latest COT data shows the commercial traders (presumed to be smart money) have the largest short position in over a year on the E-mini S&P. If you are bullish on stocks, you must know something the commercials don't.
Similarly on silver, the COT chart below shows the commercials are quite heavily short, while the small speculators are on the long side of the trade. Sometimes the commercials get it wrong, but that isn't normally the way to bet.
Kim Rice 12/16/12
Similarly on silver, the COT chart below shows the commercials are quite heavily short, while the small speculators are on the long side of the trade. Sometimes the commercials get it wrong, but that isn't normally the way to bet.
Kim Rice 12/16/12
US Dollar Fractal
Posted below are a few charts showing a fractal pattern in the dollar. If it continues to track with the base fractal, the dollar may be getting close to starting an intermediate leg to the upside. The first chart is the longer term big picture. The other two charts are close-ups of the areas circled on the long-term chart. IF this pattern plays out, it would likely put downward pressure on the stocks and metals which correlates with analysis posted earlier on those markets.
Typical pattern analysis shows a H&S pattern forming for the last few months, which would normally imply a breakdown. However, the fractal implies it may not work out that way. We'll see I guess.
Kim Rice 12/16/12
Typical pattern analysis shows a H&S pattern forming for the last few months, which would normally imply a breakdown. However, the fractal implies it may not work out that way. We'll see I guess.
Kim Rice 12/16/12
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