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To: skinowski who wrote (65768)2/8/2003 6:42:29 PM
From: At_The_Ask  Respond to of 209892
 
I agree completely. The comms can become infinitely short or long. The reason that the markets reverse when the comms are heavily against the trend is because the speculators exhaust themselves. When the last clown buys or shorts it's game over.



To: skinowski who wrote (65768)2/8/2003 11:44:06 PM
From: Moominoid  Respond to of 209892
 
In most markets I understood commercials as producers largely hedging long positions (like in gold). Never been sure who they are in stock indices but supposed they were generally long stocks and therefor mostly shorting the index futures. Never been sure either that these numbers are that useful.... except I would be inclined to follow the large speculators assuming them to be savvy hedge funds?