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Net Euro Speculative Positions Hit New Record At -59,422, A Change Of 2,270 From The Prior Week
After a record net speculative short euro (futures) build up in the prior week, with bearish bets hitting -57,152 for the week of February 9 (increasing by -13,411 from the prior week), there were expectations that some of the more timid elements would run for cover. So much for that. The CFTC just released its February 16 COT detail, which showed that net euro shorts climbed once again, hitting a new record "high" of -59,422. This is -30.30% of the open interest. The record net long exposure from May 15, 2007 of +119,538 is a distant memory. The increasing bearishness on the euro was countered with some profit taking on net long yen positions. Net speculative yen longs declined from +22,396 to +13,912 (11.6 of OI).
Source CFTC Commitment of Traders Report
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"euro (futures)"....
not FX crosses
longshorty here.
yes, you are 100% correct about where most trading occurs Andy. I have no idea whether or not that invalidates the usual tendency of COT among speculators to be a contrary indicator.
Ahhh no...COT positioning is counterintuitive however and it is time to load up on euros..
meh.
If 8 futures makes 1M euro (125,000 euro per contract) then this is only an increase of 300M. This is so small compared to the spot, forward, and swaps market that it is nothing. It's like saying the amount of gold in a single vault increased, so the whole supply must be going up.
if you actually traded currency you wouldnt make that comment. COT is one of the better stats to determine which way to trade....and its always opposite of what everyone else is doing
Sir, I am not sure how long or your background in trading currencies or for that matter trading anything . But your statement "and its always opposite of what everyone else is doing" is something you should re-examine for the health of your portfolio. Good luck sir, I am quite sure you would need it as you begin your trading education!
apparently you dont know how to trade...you have to be in and out of the boat before everyone jumps in the boat and capsizes it..every good trader knows that...do a little a research on COT positioning and how it works and "begin your education"....you are in obvious need of it
I run a desk, and you can say things like "most of the time" it's a counter-indicator, but that's only because of makers arb positions being pushed in the way the market has already moved. It does not help with future positioning of any sorts. It's like saying since the market has gone down (long crosses, short Futs) then at some point it must bounce.
ok...i trade futures and it works... i am talking in and out trades...not holding for anymore than 2 days.
To mucj«h bearishnes on the €...
I'm long the Euro versus the Dollar.
Heh, all it would take is for Mr. Trichet, Weber, or whoever to say that recent FX moves have been "brutal" and "unwelcome", and massive ECB intervention is imminent to prevent "disorderly" currency moves.
Sombody is about to get punched hard....
LOL....
That's frickin awesome.
So when there's a massive short squeeze in the Euro, gold will rocket up in dollars. Just as gold has been rocketing up in Euros, as the short squeeze in the dollar has unfolded. Either way gold looks pretty good here.
EURO daily and weekly chart remains bearish.
http://www.zerohedge.com/forum/market-outlook-0
My charts are all animal-spirity.
spiegel says greece aid package is ready
http://translate.google.de/translate?js=y&prev=_t&hl=de&ie=UTF-8&layout=1&eotf=1&u=http://www.spiegel.de/wirtschaft/unternehmen/0,1518,679222,00.html&sl=de&tl=en
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