COT-Copper Traders Lose their Minds

21 Nov 2016 17:35, GMT

Jamie Saettele, CMT, Sr. Technical Strategist

52 week position extreme for copper
Significant buying by specs and selling by hedgers in copper
BUT - record positioning was reached in 2003; at START of major bull move

Subscribe to Jamie Saettele's distribution list in order to receive several free reports per week

The COT Index is the difference between net speculative positioning and net commercial positioning measured. A blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying. A red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Non-commercials tend to be on the wrong side at the turn and commercials the correct side. Use of the index is covered closely in detail in my book.

Latest CFTC Release dated November 15, 2016

Week (Data for Tuesdays)
US Dollar	88
Euro	26
British Pound	31
Australian Dollar	84
Japanese Yen	14
Canadian Dollar	33
Swiss Franc	6
Mexican Peso	69
Gold	33
Silver	53
Copper	100
Crude	37

Charts (all charts are continuous contract)

Non Commercials (speculators) – Red

Commercials – Blue

Small Speculators – Black

COTDiff (COT Index) – Black

US Dollar ICEUS Continuous Contract