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Strategies & Market Trends : The Ego Forum

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To: hubris33 who wrote (9729)	3/25/2011 7:22:00 PM
From: hubris33	1 Recommendation Read Replies (1) of 12175

While COMEX was trying to cap speculation, COT wasn't paying attention. Over all OI dropped only -197 on Thursday's $3.10 drop in Front Month. [Of course the drop off of the new ATH was ~$20.] That in the face of a record drop in Apr OI of 26,714 down to 173,849. Remember Thursday the contract goes "notice." So looks like most of the Apr OI was rolled over to the Jun contract - it added +25,442 to an OI of 207,051. The OI's have now crossed so the Jun will take the lead and be the driver from here on out until mid-May. Still need to see that POG can hold up in the face of dropping 30K+ of Apr OI a day next week. And then we want to see COT come in strong and start buying running over all OI up around 555K to 600K. H3

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