Why not add copper to the CoT readings since it is an important Amigo for indicating cyclical reflation trades?
Note that these are just the raw numbers for the weekly period ended January 14th. Graphical data will be out soon and you can grab it on the links page from your choice of sources. Also, I am not used to looking at copper’s CoT data so I don’t know if it operates similar to gold and silver. Commodities have all sorts of interests in the markets. Producers, speculators, hedgers, banks, we little guys, etc.
The main thing to know is that one week’s moves in the CoT rarely mean something, but the end/beginning of trends often do.
Gold jerked a positive move this week as Specs sold and Commercials bought and covered. Also, the little guy did some shorting, which is positive.
Silver was relatively neutral in its weekly movements.
Copper jerked negative as Specs appeared to eat the reflation story and Commercial interests reduced longs and increased shorts.
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