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

To: ild who wrote (44780)	11/4/2005 3:34:34 PM
From: ild	Read Replies (1) \| Respond to of 110194

GOLD - COMMODITY EXCHANGE INC. Code-088691 FUTURES ONLY POSITIONS AS OF 11/01/05 \| --------------------------------------------------------------\| NONREPORTABLE NON-COMMERCIAL \| COMMERCIAL \| TOTAL \| POSITIONS --------------------------\|-----------------\|-----------------\|----------------- LONG \| SHORT \|SPREADS \| LONG \| SHORT \| LONG \| SHORT \| LONG \| SHORT -------------------------------------------------------------------------------- (CONTRACTS OF 100 TROY OUNCES) OPEN INTEREST: 334,470 COMMITMENTS 180,554 49,986 30,031 69,529 229,860 280,114 309,877 54,356 24,593 CHANGES FROM 10/25/05 (CHANGE IN OPEN INTEREST: -4,918) -26,255 -3,471 -229 15,215 -5,245 -11,269 -8,945 6,351 4,027 PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS 54.0 14.9 9.0 20.8 68.7 83.7 92.6 16.3 7.4 NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 252) 129 68 31 33 40 180 125 . CRUDE OIL, LIGHT SWEET - NEW YORK MERCANTILE EXCHANGE Code-067651 FUTURES ONLY POSITIONS AS OF 11/01/05 \| --------------------------------------------------------------\| NONREPORTABLE NON-COMMERCIAL \| COMMERCIAL \| TOTAL \| POSITIONS --------------------------\|-----------------\|-----------------\|----------------- LONG \| SHORT \|SPREADS \| LONG \| SHORT \| LONG \| SHORT \| LONG \| SHORT -------------------------------------------------------------------------------- (CONTRACTS OF 1,000 BARRELS) OPEN INTEREST: 821,833 COMMITMENTS 120,127 162,167 126,950 521,071 461,207 768,148 750,324 53,685 71,509 CHANGES FROM 10/25/05 (CHANGE IN OPEN INTEREST: 4,424) -526 3,430 3,330 -2,038 -3,773 766 2,987 3,658 1,437 PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS 14.6 19.7 15.4 63.4 56.1 93.5 91.3 6.5 8.7 NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 245) 43 107 87 75 81 184 216 S&P 500 STOCK INDEX - CHICAGO MERCANTILE EXCHANGE Code-138741 FUTURES ONLY POSITIONS AS OF 11/01/05 \| --------------------------------------------------------------\| NONREPORTABLE NON-COMMERCIAL \| COMMERCIAL \| TOTAL \| POSITIONS --------------------------\|-----------------\|-----------------\|----------------- LONG \| SHORT \|SPREADS \| LONG \| SHORT \| LONG \| SHORT \| LONG \| SHORT -------------------------------------------------------------------------------- (S&P 500 INDEX X $250.00) OPEN INTEREST: 651,988 COMMITMENTS 58,443 70,304 3,507 469,850 467,449 531,800 541,260 120,188 110,728 CHANGES FROM 10/25/05 (CHANGE IN OPEN INTEREST: -1,060) -1,321 1,125 1,907 2,970 555 3,556 3,587 -4,616 -4,647 PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS 9.0 10.8 0.5 72.1 71.7 81.6 83.0 18.4 17.0 NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 195) 37 38 13 87 63 130 108 E-MINI S&P 500 STOCK INDEX - CHICAGO MERCANTILE EXCHANGE Code-13874A FUTURES ONLY POSITIONS AS OF 11/01/05 \| --------------------------------------------------------------\| NONREPORTABLE NON-COMMERCIAL \| COMMERCIAL \| TOTAL \| POSITIONS --------------------------\|-----------------\|-----------------\|----------------- LONG \| SHORT \|SPREADS \| LONG \| SHORT \| LONG \| SHORT \| LONG \| SHORT -------------------------------------------------------------------------------- ($50 X S&P 500 INDEX) OPEN INTEREST: 1,107,973 COMMITMENTS 161,135 307,586 19,482 609,982 659,513 790,599 986,581 317,374 121,392 CHANGES FROM 10/25/05 (CHANGE IN OPEN INTEREST: -11,127) 20,539 -55,131 8,107 -44,543 48,376 -15,897 1,352 4,770 -12,479 PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS 14.5 27.8 1.8 55.1 59.5 71.4 89.0 28.6 11.0 NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 195) 49 54 15 60 57 118 117

To: ild who wrote (44780)	11/4/2005 4:19:38 PM
From: Chaka	Read Replies (1) \| Respond to of 110194

Steven Saville has pointed out ( as i have done previously ) that an excellent example of monetary inflation misdirecting resources is the millions of miles of fibre-optic cable that were laid during the telecom boom. 98% of this fibre-optic capacity remains unlit to this day. enormous amounts of resources were squandered on this white elephant, I agree with many of Heinz's points but this one is not a good example. The cost of laying the fiber is pretty much the same, be it one strand or a bundle of 100 strands (since the main cost is labor involved)- so it makes perfect sense to throw the bundle in the ground initially and then light them up when needed (lighting them up has costs since this implies purchase of network equipment). Thus, 98% unlit does not mean that 98% of the costs could have been saved! Of course, there were huge mal-investments during that time but this is not a particularly good example of that.