guys - price action and stock patterns are first and foremost.
As far as COT data it's only something to pay attention to
when it's act extreme levels, see my weekly chart of gold i.e.
where you see when it gets well below 100K, or over the last couple
years it's been toppy around 150K, in the bull market it would get
to 250K or higher. Right now the net short is 100K on gold
for the commercials, that's not an extreme high or low, so I don't
even pay attention to it. Follow price action, trendlines,
patterns, indicators i.e. technical analysis - again the COT data
is only something to pay attention to at extremes and even then
it's not my price trigger.
Rob, The same analysis should apply to $silver: it is overbought
on the weekly charts (rsi(5), stochastic) but oversold on
dailies. For a good trending move, the two charts should align.
guys - price action and
Any one looking for SLV lows in June and where in view of Cot commercials still quite short now? THX
Posted by matt on 31st of May 2015 at 11:43 am
guys - price action and stock patterns are first and foremost. As far as COT data it's only something to pay attention to when it's act extreme levels, see my weekly chart of gold i.e. where you see when it gets well below 100K, or over the last couple years it's been toppy around 150K, in the bull market it would get to 250K or higher. Right now the net short is 100K on gold for the commercials, that's not an extreme high or low, so I don't even pay attention to it. Follow price action, trendlines, patterns, indicators i.e. technical analysis - again the COT data is only something to pay attention to at extremes and even then it's not my price trigger.
I asked about SLV NOT
Posted by rbreese on 31st of May 2015 at 04:50 pm
I asked about SLV NOT GLD . GLD has much less shorts by Commercials then SLV IMO. THX for your thoughts.
Rob, The same analysis should
Posted by junkie on 31st of May 2015 at 05:02 pm
Rob, The same analysis should apply to $silver: it is overbought on the weekly charts (rsi(5), stochastic) but oversold on dailies. For a good trending move, the two charts should align.
MATT I asked about silver
Posted by rbreese on 31st of May 2015 at 04:42 pm
MATT I asked about silver which is at HIGHEST shorts of the YEAR.
No it wasn't, it was
Posted by matt on 31st of May 2015 at 05:04 pm
No it wasn't, it was higher last week:
COT commercials were net short 42K this week on Tuesday.
Last week Commercials were net short 62K, so that's a big drop of 20K
I have not been keeping track of the major high and lows to say what the extremes are
THX
Posted by rbreese on 31st of May 2015 at 05:15 pm
THX