$GOLD - Chart Link - a member asked me to
show the commercial net short for gold, however I didn't see it
until after the newsletter was posted.
anyway here's the chart, they decreased from 214K to 202K from
last week, so it's working it's way lower, and since this number is
as of Tue last week and NOT Friday (so it doesn't reflect what it
would have been on Friday), It's good to see the number continue to
drop, as it was in the 260's at the early Oct high, however we may
need to see it dip into the 100's to see a really good bottom.
I haven't been following the COT option data, so I don't know
what a good number is, to really have a good feel for that you have
to plot it with the price of gold for years and compare the numbers
to peaks and troughs in gold, however I've been following the
commercial net short for many years and therefore I have a feel for
it. First thing to realize, the commercials are ALWAYS's net
short, so that's not the issue, the issue is with how much they are
net short. When the Net Short is > 250K, gold is toppy,
though it can stay elevated for long periods of time. When it falls
below 200K and into the 100's, that's generally a positive. If you
look at the chart, major bottoms used to occur when this 'net
short' fell below 100K, however this low threshold number
has steadily risen over the years and the commercial short net low
after 2008 has been in the 100's, the last two lows it was 165K and
130K.
Posted by rpccharts on 24th of Dec 2012 at 10:26 am
JPM and HSBC are extensions of COMEX and London Metals Exchange
FED and BOE PPT shorts to keep QE "frothy". they are in ATACK mode
on Gold through 1st 2ks of Jan...
Gold commercial net short
Posted by matt on 24th of Dec 2012 at 09:51 am
$GOLD - Chart Link - a member asked me to show the commercial net short for gold, however I didn't see it until after the newsletter was posted.
anyway here's the chart, they decreased from 214K to 202K from last week, so it's working it's way lower, and since this number is as of Tue last week and NOT Friday (so it doesn't reflect what it would have been on Friday), It's good to see the number continue to drop, as it was in the 260's at the early Oct high, however we may need to see it dip into the 100's to see a really good bottom.
COT Record Bears with options
Posted by rpccharts on 24th of Dec 2012 at 09:58 am
http://uppix.net/5/e/d/0357a837f61d971e33e4da8b9f836.png
cot with options for gold - still record bearish
I haven't been following the
Posted by matt on 24th of Dec 2012 at 10:09 am
I haven't been following the COT option data, so I don't know what a good number is, to really have a good feel for that you have to plot it with the price of gold for years and compare the numbers to peaks and troughs in gold, however I've been following the commercial net short for many years and therefore I have a feel for it. First thing to realize, the commercials are ALWAYS's net short, so that's not the issue, the issue is with how much they are net short. When the Net Short is > 250K, gold is toppy, though it can stay elevated for long periods of time. When it falls below 200K and into the 100's, that's generally a positive. If you look at the chart, major bottoms used to occur when this 'net short' fell below 100K, however this low threshold number has steadily risen over the years and the commercial short net low after 2008 has been in the 100's, the last two lows it was 165K and 130K.
COT Net Short
Posted by rpccharts on 24th of Dec 2012 at 10:26 am
JPM and HSBC are extensions of COMEX and London Metals Exchange FED and BOE PPT shorts to keep QE "frothy". they are in ATACK mode on Gold through 1st 2ks of Jan...
looking for 1550 test of GOLD - BE PATIENT
UVXY XIV pairs good for scalps xmas week
Posted by rpccharts on 24th of Dec 2012 at 10:35 am
UVXY XIV pairs good for scalps xmas week
NUGT DUST ... waiting till mid jan when world gets back
http://uppix.net/5/e/d/0357a837f61d971e33e4da8b9f836.png cot with options for gold
Posted by rpccharts on 24th of Dec 2012 at 09:57 am
http://uppix.net/5/e/d/0357a837f61d971e33e4da8b9f836.png
cot with options for gold - still record bearish