[RT] Fw: [&P 500 commercial interest

[profitok <profitok@xxxxxxxxxxxxx>]

Unscrambling the government's COT data takes some 
"handwaving."  I have often wondered how one can figure out (with 
minimum delay and certainty) how the big guys spread themselves 
between "big" contracts, e-mini contracts, and options.  In any case, 
the following is an excerpt from a recent market letter (MarketClues) about 
this subject:
 
"It's the 
commercials who recognized that stocks were enormously overvalued and started 
short selling them even before the ultimate top. They have continued to sell 
stocks short ... the latest report [COT]  
... showed commercials were still net short the market, although they have been 
doing a bit of covering in the last couple of weeks ... Some subscribers 
have emailed us claiming that the commercials had moved to net long the stock 
market, but they had failed to take into consideration positions in the emini 
contracts [and options?] — commercials have been 
shifting into the eminis because of great liquidity in that market and the fact 
that they trade 23½ hours per day from Sunday afternoon until Friday 
afternoon." 
 
Bill
<BLOCKQUOTE 
>
  ----- Original Message ----- 
  <DIV 
  >From: 
  Don 
  Grant 
  To: <A title=gannsghost@xxxxxxxxxxxxxxx 
  href="">gannsghost@xxxxxxxxxxxxxxx 
  Sent: Tuesday, April 01, 2003 10:15 
  PM
  Subject: [gannsghost] S&P 500 
  commercial interest
  
  
  <FONT color=blue 
  size=3><SPAN 
  >Commercial 
  hedgers are now long the S&P for the first time since May 
  2000.
  <FONT color=blue 
  size=3><SPAN 
  >Small 
  speculators are winding back long positions.
  <FONT color=blue 
  size=3><SPAN 
  >Public 
  sentiment is 25% bullish.
  <FONT color=blue 
  size=3><SPAN 
  >Cheers 
  and good trading!
  <FONT color=blue 
  size=3><SPAN 
  >Don.To 
  unsubscribe from this group, send an email to:<A 
  href="">gannsghost-unsubscribe@xxxxxxxxxxxYour 
  use of Yahoo! Groups is subject to the <A 
  href="">Yahoo! Terms of Service. 
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