Loading ...In Murph tonight=
something most unusual is happening with u.s. dollar futures.
in the last six months the dollar has basically risen from 89 to 95. however, the commercials have been extremely short. we think the commercials are “smart money”. are they really? in march they were merely about 3,000 net short. in april they were about 2,100 net short. in may this went to about 5,000 net short. in june this jumped to 23,000 net short. in july this jumped to 30,000 net short. then in august an amazing 40,000 net short! they are hemorrhaging. the dollar would have to collapse tomorrow, and go to very low levels just for them to break even. supposedly there are about $1.7 trillion dollars worldwide. i have no idea what is going on. just reporting.
best,
roger