COT not that bullish. I thought the 75k level of the COT's was
getting more bullish but the following comments from a major
publication today seems to suggest the opposite. Comments?
"Hedge funds and other speculative investors have increased
wagers that gold prices will fall over the past five consecutive
weeks, pushing them to their highest level ever during the week
ended July 17, according to Commodity Futures Trading Commission
Data going back to 2006.
Adding to worries, analysts say open interest in gold futures
has been rising quickly as prices have fallen.
“This suggests that short sellers are pressing their bets,”
Sundial Capital Research’s Jason Goepfert wrote in a note to
clients last week. Typically the opposite happens when gold prices
are bottoming out."
remember it's been lower, the absolute bottom was 5k back in
late 2015. Again the fact that it's getting down here is
good, but you need a trigger because it could always go back that
low and that would take lower prices and time.
I understand the COTs could go lower but if we are in some sort
of bottoming phase is it normal for short interest to be at the
highest levels since 2006 and for open interest in futures to be
rising, not falling?
yep you definitely make good points, and again most likely shows
that this this sector has more pain left to it . Again that's
why you need a technical trigger on the chart, a falling wedge,
divergence, etc, one cannot simply buy because the Com Net short is
low.
COT definitely NOT bullish and price action totally bearish and
trending down powerfully. No strength or signs of life in the
sector. Dollar is in a powerfoul uptrend the best currency in the
world.
Yuan devaluation, ecb qe, yen qe, gbp bretix problems, ensures
this continues.
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COT not that bullish. I
Posted by victorh on 23rd of Jul 2018 at 08:33 pm
COT not that bullish. I thought the 75k level of the COT's was getting more bullish but the following comments from a major publication today seems to suggest the opposite. Comments?
"Hedge funds and other speculative investors have increased wagers that gold prices will fall over the past five consecutive weeks, pushing them to their highest level ever during the week ended July 17, according to Commodity Futures Trading Commission Data going back to 2006.
Adding to worries, analysts say open interest in gold futures has been rising quickly as prices have fallen.
“This suggests that short sellers are pressing their bets,” Sundial Capital Research’s Jason Goepfert wrote in a note to clients last week. Typically the opposite happens when gold prices are bottoming out."
remember it's been lower, the
Posted by matt on 23rd of Jul 2018 at 08:37 pm
remember it's been lower, the absolute bottom was 5k back in late 2015. Again the fact that it's getting down here is good, but you need a trigger because it could always go back that low and that would take lower prices and time.
I understand the COTs could
Posted by victorh on 23rd of Jul 2018 at 08:44 pm
I understand the COTs could go lower but if we are in some sort of bottoming phase is it normal for short interest to be at the highest levels since 2006 and for open interest in futures to be rising, not falling?
yep you definitely make good
Posted by matt on 24th of Jul 2018 at 12:32 am
yep you definitely make good points, and again most likely shows that this this sector has more pain left to it . Again that's why you need a technical trigger on the chart, a falling wedge, divergence, etc, one cannot simply buy because the Com Net short is low.
COT definitely NOT bullish and
Posted by torvix on 24th of Jul 2018 at 02:36 am
COT definitely NOT bullish and price action totally bearish and trending down powerfully. No strength or signs of life in the sector. Dollar is in a powerfoul uptrend the best currency in the world.
Yuan devaluation, ecb qe, yen qe, gbp bretix problems, ensures this continues.