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40% Drop In Speculative Euro Short Positions For Week Ended March 16

Submitted by Tyler Durden on 03/19/2010 16:13 -0400

The most recent CFTC committment of traders report indicates that as of March 16 net speculative euro short positions got clobbered in the past week, and declined by nearly 40%, from the all time record bearish -74,551 to -46,341. Comparably for the Yen, In the yen, of per March 16, speculative accounts had a net long of
+15,197 contracts, another 40% decline from of the prior weeks's +26,288. On March 16, the euro closed $1.3769 compared to Friday's closing levels of $1.3534. In the meantime it was discovered that Europe won't be bailing out Greece after all, so all you speculators who closed out your shorts in anticipation of a squeeze: better luck next time.

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Fri, 03/19/2010 - 16:27 | 270515 PicassoInActions

what about USD/JPY? short?

Fri, 03/19/2010 - 17:41 | 270553 BlackSea

I guess the reverse-squid recommendation indicator is working well these days...

Fri, 03/19/2010 - 18:00 | 270569 Mr Lennon Hendrix

The Doelarr to get it's ass handed to it from here on out. The "King" is DEAD!

Fri, 03/19/2010 - 20:57 | 270664 SilverIsKing

Why so?

Sat, 03/20/2010 - 23:57 | 271156 Mr Lennon Hendrix

The Greece smokescreen can only last so long. We know the IMF will be doing the bailing out; comparisons lack but the Euro is a better play than the doelarr. Oil/gold prices will continue to drag on it, as do state and muni bonds. It has been spinning at 80 for so long, the wheels are falling off.

Fri, 03/19/2010 - 19:23 | 270629 aurum

keeping the stop tight.

Fri, 03/19/2010 - 23:37 | 270742 hidflect

Euro-politicians loathe short speculators (doesn't almost everyone?) Memories are long and they won't let the Soros/Pound humiliation of '92 re-occur. Anyone betting against the egos of countries belonging to the Euro will learn a hard and fast lesson in wealth destruction.

Fri, 03/19/2010 - 23:39 | 270743 ratava

You are forgetting the Goldman call. It did not touch 1.35 on triple witching, could still turn around here. If GS gives me a free call, hey i will spare them 10 pips ;).

Sat, 03/20/2010 - 21:56 | 271093 tenaciousj

Yup, I too found it interesting that it came within 5 pips of the GS call.

Sat, 03/20/2010 - 01:26 | 270772 Grand Supercycle

EURO has now resumed it's downtrend on the daily chart. Weekly remains bearish.

Opposite for USD index of course.

So I'm short EURO.

http://www.zerohedge.com/forum/latest-market-outlook-0

Sun, 03/21/2010 - 23:03 | 271844 Orly

Cable takes a nice beating here.

Wed, 04/14/2010 - 08:12 | 299717 mark456

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40% Drop In Speculative Euro Short Positions For Week Ended March 16

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