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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: dara who wrote (305524)	9/30/2024 12:37:22 PM
From: ralfph	Read Replies (1) \| Respond to of 312346

Thanks for that dara. Makes for another interesting read.

To: dara who wrote (305524)	11/10/2024 1:56:25 PM
From: dara	1 Recommendation Recommended By LoneClone Respond to of 312346

COTS as of November 5, 2024 Post Election Rally in the Indices While the Metals Correct This past week gold pulled back from its all time high of $2,790.07 closing the week out at $2,694.80. The HUI (or gold bugs index) followed suit pulling back to $311.99. Neither gold nor the HUI are in overbought territory although both are well above their 200 dma and sitting at their 50 dma. Silver has corrected from its recent high closing the end of the week at $31.45. Silver is not overbought and is trading slightly below its 50 dma. Traders I follow are looking to add to their positions at lower levels. Dr. Copper has pulled back from its recent high closing the week at $4.31. It is trading at its 200 dma and is approaching oversold. Traders I follow are looking to cover their shorts on this move. Platinum has moved down from recent highs closing the week at $978.50. Traders I follow sold into the high are looking to buy if it corrects further. Platinum is not overbought and is just above its 200 dma. Palladium has corrected from recent highs and closed the week at $992.20. It has corrected back towards its 200 dma and is not overbought. Traders I follow took profits near the recent high and are buying this dip. WTIC in a downward channel closing the week out at $70.38. It is is below its 200 dma sitting at its 50 dma. Natgas has pulled back from recent highs closing the week at $2.67 level. It is not overbought and is sitting at its 50 dma. Traders I follow are neutral on natgas and see further downside on oil based on a weakening global economy. In the runup to the US election and the aftermath of the Federal Reserve cutting interest rates by a further 25 basis points, the US$ is making new highs for this move closing the week at $104.38. Along the the US dollar, the yield on the 10 year US treasury has rallied from the 3.75 level closing the week out at 4.38. Traders I follow are once again buying the TLT in anticipation of yields dropping. This is slightly controversial as other traders believe the Fed has lost control of the bond market as yields rise while the Fed is cutting. With respect to the major stock indices, the DOW, SPX, and QQQ have made new all time highs. The TSX is making a double top yet to be confirmed, while the Chinese markets are continuing their bounce off recent lows in response to further governmental liquidity. In the Commitment of Traders report, which seems to matter less and less, the commercials decreased their net short positions in gold and silver. See here and here and here. Ed Steers' Comments: on silver: "... You can see why I insist on calling the current set-up very bearish. ..." on gold: " But let me make one thing clear -- and that is that the commercial net short position in gold remains over-the-moon wildly bearish in the extreme from a COMEX futures market perspective...no matter what yesterday's COT Report showed...or whatever is in the one we get next week. " Disaggregated futures and options - combined report: cftc.gov Legacy Report: Futures Only Commodity Exchange Incorporated: cftc.gov