Saturday 27 September 2014

COT data of Sep 23rd 2014 - British Pound [BP]

British Pounds - Total o/i 134061, spreads 2726 (2.0%).  Closing price Sep 23rd 1.6390 
 

Nett differences:  Commercials  +13234 (from +15775)  Large Specs -1050 (from -6581)  
                              Small Specs -12184 (from -9194)
 
Proportions: 

Commercials (39.0% of total o/i) -
44.1% of Longs (from 42.8%), 34.0% of Shorts (vs 30.8%), balance plus 10.1 (vs plus 12.0)
Large Specs (41.3% of total) - 
40.9% of Longs (from 42.1%), 41.7% of Shorts (vs 47.1%), balance minus 0.8 (vs minus 5.0)
Small Specs (19.7% of total) - 
15.0% of Longs (from 15.1%), 24.3% of Shorts (vs 22.1%), balance minus 9.3 (vs minus 7.0)  
Total open interest changed very little, as did Spreads. Commercials remained nett long, but added noticeably to shorts while increasing their longs only fractionally. Large Specs acted contrariwise, reducing shorts considerably while cutting longs a little. Small Specs may be providing the best lead, holding an unusually large proportion of the total o/i, and going shorter overall. Taking their position (as usual) as a contrarian signal, a further small rise looks probable.

  
[Dollar Index: Proportions - 
Commercials (41.2% of total o/i) - 5.9% of Longs (from 7.3%), 76.5% of Shorts (vs 75.4%), balance minus 70.6 (vs minus 68.1)
Large Specs (51.9% of total) - 83.0% of Longs (from 82.5%), 20.7% of Shorts (vs 23.0%), balance plus 62.3 (vs plus 59.5) 
Small Specs (6.9% of total) - 11.1% of Longs (from 10.2%), 2.8% of Shorts (vs 1.6%), 
balance plus 8.3 (vs plus 8.6) ]

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