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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (11958)	8/9/2004 6:19:21 PM
From: Louis V. Lambrecht	Read Replies (2) \| Respond to of 60928

Does not mean anythings, just can 'splain some and make many people write about. Comex handles and the CFTC reports on about 20% of the worlds futures. Validity of COTs for directions on Swissie is worse, 42K contracts total open interest? With a maintainace margin of USD 1550. Big deal. And there are 30 traders fighting for 42K positions. Smallest OI in the currencies. What most people forget is that since May 1st, 2000 the Swissie lost it's over-coverage in gold (which was CHF 4596/kilo and the reason why the SNB could sell as much gold as it did). Swissie now has a "more appropriate" coverage: fiat money as the others. Really big deal. <vbg> Now for POG and CoTs, all I say is that POG usually was high when the commercials had a high net short. High relative to what? <g>