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Strategies & Market Trends : The Ego Forum

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To: hubris33 who wrote (11780)	2/15/2013 12:29:37 PM
From: hubris33	1 Recommendation Read Replies (2) of 12175

COT hanging tough ---> YESTERDAY ............... ................... ................. Will be interesting to see Monday what happened with COT today and the BIG washout in POG. Thursday however, as POG slid yet another -9.60, COT appears to have hung in there. OA OI dropped -1715 on Thursday to 444,559. Still a respectable level. Still maintaining its ST uptrend. The selling came from the specs in the Apr contract - it shed -4868 of OI. That's a decent drop; greater than the prior day's add of +3684. But WAIT! OA OI was down only -1715, if Apr shed that much, there mus t have been buying somewhere else? YEP! Jun OI added +532, not much, and it sure doesn't make up for the difference needed... so we look to the Aug contract and see an add of +2213. {yeah, OK, some other adds and subtracts out there....nothing bigger in magnitude than Jun} So with POG closing yesterday at 1635.50 on the front month, sellers did their thing in the Apr and buyers emerged further out in the Jun and Aug contracts. So how many of the adds from the last few days got blow out in today's carnage? Will we get renewed buying support coming in next week? Stay tuned.

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