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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (12984)4/30/2004 6:01:45 PM
From: ItsAllCyclical  Read Replies (1) of 110194
 
>> A huge dollar short has already been squeezed . Just looking at the FX subtotal on the Comex
commitmentsoftraders.com
the specs were long currencies (short the dollar) 257,133 futures w/options on Feb. 17. Now it's only 8,196, nothing left to squeeze. <<

Thanks. Exactly what I needed to hear to buy more PM issues on this dip. There is no way the FED is raising come Tues or even changing their language given the econ numbers so far. There has been no discernable trend change that say that job creation has come back. We'll need at the very least 2-3 more months of decent growth to confirm. That combined with this COT info gives me more hope we're relative close to an IT bottom at least w/respect to time. Can't rule out one last flush if the market continues to head south ST.
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