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Remember one thing. Those people on the floor
are taking the other side of everyone else's trades. These contracts are
created so if you want to get long someone else has to get short. What is
the option open interest, that is where the hedge might be.
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----- Original Message -----
<DIV
>From:
Eliot Kaplan
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">Mail List RealTraders
Sent: Saturday, July 17, 2004 8:04
AM
Subject: [RT] COT on Currencies
RTers,Was just wondering if any of you currency experts
might like to comment on the following.In the enclosed DX (US Dollar),
EC (Euro), & CD (Canadian Dollar) COT charts which I got from this weeks
free Software North COT report, <A
href="">http://www.softwarenorth.com/trading/the
implication seems to be that the commercials are quite long (and getting
longer) the US Dollar, short (and getting shorter) the Canadian Dollar and the
Euro. Yet the US Dollar's march south seems only occasionally interrupted, and
just yesterday, the Canadian Dollar broke out of a measured move above its
recent range. The Euro too does not seem to be bearing out this prediction. Am
I reading this incorrectly?Of course, I know the commercials are often
way ahead of the moves in the market that bear out their predictions that the
COT provides, yet these charts seem so out of sync to me, that I expect some
other explanation is more relevant.Earl, others, any
thoughts?Thanks.Eliot
Eliot KaplanISU,
Inc.eliot@xxxxxxxhttp://www.isu.comVoice:
805.565.7710
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