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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (127137)	12/15/2005 9:31:50 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

Commercials were getting longer Oil in Sep, Oct, Nov. as the price was declining. They are still fairly long. I would expect them to unload and go short as the price recovers... which would probably be a good time to lighten up on energy holdings. In this context the fact that they are long is an "argument" for NOT getting scared out of long positions at this time. selling by omission ?? Maybe yes, to an extent. Often those are large and small traders who initiate trades, and commercials are there to accommodate them. (This could be more true about financial markets than about oil, but it probably does hold to an extent). I think that in many cases "commercials" are "smart money" not because they are "smart", but because specks as a group tend to be wrong.