from KingWorldNews:
Eric King: “Dan, what about the COT (Commitment of Traders Report)? I know once again there was some major movement there?”
Norcini: “One of the things that caught my eye this week was the swap dealer (activity).
They were selling a lot of gold. There was a big, big jump in their short positions overall. They piled on almost 26,000 shorts.
Very interesting, also, the producer/merchant (commercial) category didn’t have a lot of movement. They were pretty flat on the week again. So the bulk of the selling really came from the swap dealers. I can’t help but think that some of that swap dealer selling was related to hedges being instituted for mining companies.”
Dan Norcini continues @ KingWorldNews.com
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Eric King: “Dan, what about the COT (Commitment of Traders Report)? I know once again there was some major movement there?”Norcini: “One of the things that caught my eye this week was the swap dealer (activity).
They were selling a lot of gold. There was a big, big jump in their short positions overall. They piled on almost 26,000 shorts.
Very interesting, also, the producer/merchant (commercial) category didn’t have a lot of movement. They were pretty flat on the week again. So the bulk of the selling really came from the swap dealers. I can’t help but think that some of that swap dealer selling was related to hedges being instituted for mining companies.”
Dan Norcini continues @ KingWorldNews.com
Jim
welcomes noted technician Charles Nenner this week. Charles sees the
markets going nowhere, on balance, over the next eighteen months, and
advises investors to stay in cash and come back later. Charles also
warns against those still in bond funds, and suggests using any bond
market rally as an opportunity to get out bond funds. He sees gold as a
so-so trade, despite its large pull-back, and doesn’t see a large
advance until inflation heats up. This week Chris Puplava and Rob
Bernard join forces for a special report. They look back at the market
crash of 1987, and contrast the underlying causes and market conditions
with today’s environment. Erik Townsend also looks at the commodities
markets this week.
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