Looks like a BIG short squeeze to my untrained eye:
The specs are sooooo short and the commercials sooo long.....someone is going to be in deep merde soon.
gold COT:
1/29/99 --FWN--As of Jan 26,1999 (CONTRACTS OF 100 TROY OUNCES) -- --- --- LONG CHG SHORT CHG %OI Non Commercial 9,861 +265 70,853 +5,975 22.3 spreading 15,552 -3,293 15,552 -3,293 8.6 Commercial 125,046 +437 60,260 -9,030 51.1 Tot lrg trader 150,459 -2,591 146,665 -6,348 81.9 Small traders 30,871 -224 34,665 +3,533 18.1 Total OI 181,330 -2,815
THC |