When will silver take out its all-time high?

Market Pulse: Mar. 29, 2011

COT Data

In the COT legacy report, we see commercials -55,182 net-short. Actually, looking at the COT disaggregated report, we see Producers (true commercials) -48,933 net-short, Swap Dealers -6,249 net-short, and Managed Money 31,623 net-long.

What other metal are Swap Dealers net short? That’s right — GOLD. Read my special note under fundamentals to see why Swap Dealers are net-short silver. If the buying up of hard silver continues, hitting $50.00 by year-end is possible. Unlike gold, industry may have something to say about this. Have a pleasant week and remember to follow the trend.

Commodity

12-mo low

12-mo hi

25-Mar

18-Mar

Cattle (feed)

-2,917

7,100

225

88

Cattle (live)

-73,179

-17,850

-17,850

-25,680

Hogs

-38,039

836

-24,881

-28,014

Corn

-408,170

119,389

-301,266

-331,506

Oats

-7,738

829

-4,353

-5,177

Soybeans

-203,260

49,094

-138,198

-128,082

Soybean meal

-90,487

-14,070

-55,334

-42,592

Soybean oil

-117,444

32,394

-68,774

-71,780

Wheat

-32,577

76,473

5,834

-5,123

Orange juice

-18,285

-6,588

-11,920

-16,168

Coffee

-47,729

-4,637

-30,718

-30,386

Cocoa

-41,808

8,586

-32,012

-35,632

Sugar

-221,694

-104,983

-160,583

-175,230

Cotton

-69,857

-12,970

-29,408

-29,686

British pound

-66,435

97,211

-46,623

-8,512

Canada dollar

-115,190

-13,109

-77,927

-90,828

Euro FX

-74,393

124,494

-59,995

-63,634

Japanese yen

-52,533

92,866

-35,846

-27,402

Swiss franc

-42,387

27,482

-39,194

-42,387

US dollar index

-39,311

14,003

13,610

14,003

Mexican Peso

-126,921

-14,488

-93,382

-126,921

Australian dollar

-102,706

-10,793

-65,686

-61,333

S&P 500

-88,893

33,981

-28,234

12,952

T-note -10 yr

-74,761

356,573

122,927

172,544

T-bond -30 yr

-43,324

151,936

31,727

45,524

Eurodollar

-1,179,414

105,872

-230,663

-239,465

Crude oil

-319,669

-23,057

-303,980

-310,203

Heating oil

-66,097

7,568

-48,700

-46,239

RBOB Gasoline

-91,597

-10,453

-75,006

-73,485

Natural gas

111,345

228,910

192,722

215,788

Copper

-36,201

1,793

-23,277

-22,500

Gold

-302,740

-193,197

-224,799

-220,154

Platinum

-34,909

-15,759

-21,471

-23,319

Silver

-65,413

-43,146

-55,182

-53,421

Commercial Net Tracker instructions: This form tracks the Commitment of Traders (COT) data for the commodity futures market. This form "looks" at the most recent five weeks of COT data and provides visual indications of the data. A) If the current value is at a 12-month low, the cell will display a red/burgundy background. B) If the current value is at a 12-month high, the cell will display a green background. C) If the current value went from net negative to net positive, the cell will display a blue background (indicating a bullish condition). D) If the current value is both a 12-month high and also went from a net negative to a net positive, the background will be green. You should view the data with green backgrounds to determine if they also went from net negative to net positive.

If you need help understanding how to understand how to use the COT report to your benefit, please email me at Gary@crbtrader.com and put COT report in the subject line. Please include your name and telephone number in the email.

Proceed to Page 3 for this week's detailed fundementals charts...

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