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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: mishedlo who wrote (22385)1/28/2005 4:55:54 PM
From: mishedlo  Read Replies (1) | Respond to of 116555
 
3-MONTH EURODOLLARS - CHICAGO MERCANTILE EXCHANGE
FUTURES ONLY POSITIONS AS OF 01/25/05 |
--------------------------------------------------------------| NONREPORTABLE
NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS
--------------------------|-----------------|-----------------|-----------------
LONG | SHORT |SPREADS | LONG | SHORT | LONG | SHORT | LONG | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF $1,000,000 FACE VALUE) OPEN INTEREST: 7,326,266
COMMITMENTS
631,152 934,779 762,344 5114933 4272606 6508429 5969729 817,837 1356537

CHANGES FROM 01/18/05 (CHANGE IN OPEN INTEREST: 109,963)
61,586 -261,733 -123,939 -187,681 -101,683 -250,034 -487,355 359,997 597,318

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
8.6 12.8 10.4 69.8 58.3 88.8 81.5 11.2 18.5

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 236)
36 65 69 119 125 199 218


Small specs are plowing into ED shorts
Short interest 1,356,537
They added 597,318 short contracts just last week
The entire net short position is 538,700 contracts
Quite frankly this is amazing

In the meantime the big specs took off 200,147 contracts
That leaves the big guns short 303,627 contracts.
Just as the big boys are taking profits, small specs are playing "The Greenspan Hedge" to the max.

Take a look at today's GDP numbers, and IF we see some poor monthly jobs data that causes Greenspan to pause, there is going to be blood in the water on those small spec eurodollar shorts.

Mish