Wednesday, September 13, 2017 9:59:52 PM
Summary:
Open Interest Down
Commercial Short down a bit. Short delta 936,667 contracts.
Speculator Longs down a bit. Delta still heavily favors longs side.
Banks New data. Longs increased and shorts decreased.
Probably explains the NG run we had last week from 2.90 to 3.08..
My Opinion:
COT data is reactive not proactive one week after the fact. Although we are no longer looking at CDD and the RSI still has room to run. It would provide a perfect time to squeeze the hell out of all the shorts.
I sold my 22.35 @ 22.55 before market close. Still holding small lot @ 22.80sh. Im not buying another share of DGAZ until I see clear direction after report. If a squeeze occurs is going to be violent!
Here's another perspective with the Fibs:
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