Commitment of Traders

Can The Market Hang On To Support Here?

It is critical for the markets to “hang on” to current support at the previous breakout highs. A failure to do so will put the markets back into the previous trading range that has existed going back to 2014.

Just 3 Things

Record levels denote the point that previously marked the end of a cycle, not the beginning of a new one. This point is often missed by the mainstream media. Record highs of anything, whether it is economic, fundamental or financial data, are warnings signs of late stage events.

A New Balance Of Power In The Gold Market

Once this process gets going it will quickly clear out the inventories of the Western exchanges, leaving nothing for future arbitrageurs. The exchanges will then force those wanting delivery to accept cash instead, in effect defaulting on their promises. Then it’s game over, with the big futures manipulators no longer a factor in pricing.

Sprott Money's picture

As you know, gold has been on a tear in 2016 as investors and traders around the globe have profited form being long. You would think that some of the "smartest" and "best-connected" traders in the world - those on Bullion Bank trading desks - would have profited from this 20% move as well. However, if you think that, you're dead wrong.

Sprott Money's picture

Comex Gold Open Interest

In defending their long held short positions, the Comex Banks have now issued enough new contracts to drive total open interest back to levels not seen since 2011. Will they be successful in capping price or are they about to get a religious experience? We're about to find out.

Still Looks Like A Trap

“If the weather forecast suggests it might rain, wouldn’t you carry an umbrella?

"Battling" A Technically-Overbought Gold Market

"Now that we are entering a negative rate world, I am seeing a lot of very large-sized institutional money looking for a home. Some of this money is flowing into gold, and this is confusing technical traders who are battling what looks like a technically overbought gold market..."

Someone Is Very Wrong On The US Dollar: Hedge Funds Most Bullish In One Year, 'Real Money' Most Bearish

As JPM explained 10 days ago, before one can form a definitive view on the future direction of the S&P500, aside from BTFD "just because", one first has to decide what the USD will do from here. And that's where we run into a problem, because according to the latest Commitment of Traders data, the outlook of the "smart" money managers has never diverged as much as it does right now.