Loading ...Even the COT’s bear out what you say.
The commercials got quite a bit shorter while the funds and everyone else covered as of Tuesday. The Commercials sold their longs in the hope of spooking the market, and did spook the funds into covering but just a little. Volume appears to be drying up – my take anyway.
Seems like the funds and everyone else in the futures market is tired of getting their asses kicked as they only added 703 long contracts. Hopefully they didn’t add more after the action on Friday.