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To: marginmike who wrote (126239)	9/28/2001 4:18:52 PM
From: Lucretius	Respond to of 436258

what's the rest of OCT? I can't get in the website...

To: marginmike who wrote (126239)	10/2/2001 11:01:02 AM
From: pater tenebrarum	Respond to of 436258

yes, but OI fell quite a bit on Wednesday, the day after the CoT report. reportedly due to trade buying as expiring calls didn't expire worthlessly as expected. so they covered some right after the report came out. as Andi Smith has correctly remarked, all it'll take is two big hedge funds entering the game, and we're off to the races. that's what happened in '93 too...had you traded with the commercials in '93, you'd have lost a bundle. i'm not saying these CoT numbers are encouraging, since they sure aren't. only pointing out that one should keep an open mind here...according to G. Slezak, one of the factors we need to keep in mind is that this is a market with very little OI at this time - even compared to historical OI. however, there's a lot more moolah sloshing about in commodity black box and hedge funds than at the time of the last rally. iow, the CoTs could become a lot more extreme before signaling a top.