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Strategies & Market Trends : The Ego Forum -- Ignore unavailable to you. Want to Upgrade?

To: hubris33 who wrote (11944)	3/20/2013 11:28:50 AM
From: hubris33	Read Replies (1) \| Respond to of 12175

POG today..... ................ ................. ............ Later today we get the conclusion of the FOMC Meeting. While this has been anticlimactic of recent, perhaps the "news" of continuation of the policy of low interest rates "shocks" some inflation hawks and they shed any GC Contracts since the Fed won't be raising rates anytime soon. It does appear as though the market could care less about QE since it seems to be benign and has has little/no effects. What I do see in COT isn't encouraging... OA OI dropped again yesterday for the 4th straight day (-3,089 OI). Now down to 440,712. That is in spite the fact that POG has been rising for 4 straight days. The "culprit" is that Apr Oi is soon callable so those positions are being closed, yesterday saw -12.7K drop in Apr OI. However, these contracts are not being rolled forward as we saw an add of only +7.9K of Jun OI.