Players Bullish Metals,and Tech, Bearish EUR
Speculative players have become more Bullish Gold over the past 7 weeks, though they have decreased their net long position on Gold futures to 7.0-to-1 on February 14 from 8.1-to-1 the week before, this position is up significantly from the 3 January 2012, reading of 4.9-to-1.
The 14 February position is in the Top 24% of all recorded positions, but is in the bottom 33% since September of 2008, when Gold started its strong run North.
It is notable that the median ratio before September of 2008 is 2.5-to-1, while the median ratio of Long-vs-Short is huge; 8.4-to-1 Red Lined, after September 2008. The median ratio of all recorded positions is 3.3-to-1.
Speculative players have been net Bearish the EUR since late August 2011. The exchange rate stood at 1.44 in late August 2011 and currently stands at 1.32, down 8% for the frame.
It is notable that the net Short-to-Long ratio has increased over the last 6 wks to 6.4-to-1 on 14 February from 6.0-to-1 on 10 January.
Speculative players remain Bullish Technology. They are net Long NAS futures 2.7-to-1 as of 14 February down from the prior week's reading of 2.8-to-1. This is in the Top 20% of all positions going back to Y 2011.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels. www.livetradingnews.com