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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Square_Dealings who wrote (24008)	1/4/2005 8:36:52 AM
From: russwinter	Respond to of 110194

The commercials seem to be positioned for lower or stable rates, especially in the shorter end. They are positioned for a stock marker break. They look constructive and bullish on energy, and their position next Friday on gold and currencies released Friday (for today) on gold and FX will be revealing. My guess is that the hedge funds have liquidated the anti-USD trade in a big way. Unfortunately since the jobs number that might in influence this comes before the COTs, one just has to anticipate the more bullish gold/FX position. Therefore I'm considering the USD rally, and especially the gold and energy break as phoney, and have a hunch the jobs report will be light.