On the weekly chart we can see that back in the week of July 2, Producers had a net short position of -374,864 contracts, and look where the market was trading. Since then, we have seen weekly liquidation with this past Friday’s report showing Producers now net short -235,030 contracts. We see liquidation in net longs by Managed Money now at 161,724 contracts. Something you should be aware of — Swap Dealers over the past couple of weeks have been adding to net longs now 63,039 contracts.
If you need help understanding how to understand how to use the NEW COT report to your benefit get instant access to my new e-book "What Lies Beneath ALL Trends". It is filled with eye opening information.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.
Proceed to Page 3 for this week's detailed fundementals...