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

To: russwinter who wrote (36688)	7/22/2005 4:33:35 PM
From: futures speculator	Read Replies (2) \| Respond to of 110194

Russ, I think (I'm rather new to currency trading) that the roles of specs/commercials in currency markets are different from gold. COT "works" so well in PMs, but I'm not sure about currencies. Gold is a case where commercials are actually working for the Central Banks (or are the Central Banks themselves). I have seen no other market do the commercials have total control (apart from the Carribean pirates in US bonds, where one could also make a case about them being the Fed/PPT). I hear that in currencies, the moves are dictated by the speculators (ofcourse the OTC market is much much bigger than the CME futures, but I guess one could say that ratios are similar betwen OTC and the COT of organised futures)