Replies to post #18901 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[looking 4 a win]

Thanks Kamakiri, I'm interested

[moneybaby1]

Thanks for the updates, keep them coming

[kamakiri]

CoT w/e 10/13 cliffnotes continued:
Current data:
https://farm1.staticflickr.com/690/22048783950_be37a9eb45_o.jpg

The mix of data this week isn't typical and somewhat explains the price movement during that week. Strangely, MM and Non-Reps (NR hereon) both had net Bullish moves. NR or 'dumb money' is usually wrong, and makes sense that WTI was down in that period. NR was bullish on both ends (increased longs and dumped shorts), and MM was just net bullish (dumped more shorts than long). MM was able to cover a LOT of shorts without too much of a rally, as they also dumped long positions. Well, at least the big turn is easier to understand, IMO.

MM and OR shorts charted:
https://farm1.staticflickr.com/654/22210754066_111f4eb0c2_o.jpg

The good news for Bulls is that there are still a lot of shorts to cover between MM and OR positions. Almost 80k contracts worth. If they cover in unison like they did in April/May it would easily propel WTI into the mid $60 range.

This is old, but shows the correlation with WTI and the inverse of the short positions. Inflections in the MM positions often precede the major moves in WTI:
https://farm1.staticflickr.com/605/21061182860_98f213f62b_o.jpg