Sunday, 18 September 2011
Banks, Gas Positioning Bearish for Next Week
Two signals to report coming out of the latest weekly Commitments of Traders data. Trader positioning has turned super negative in the three-month Eurodollar contract. That's led my trading setup for the benchmark BKX U.S. Bank Index (a basket of the major U.S. financials) to go bearish for Monday's open of trading.
Also, my setup for natural gas goes bearish on Monday's open after the large speculators and small traders both put on highly bearish positioning in recent weeks.
See my newly updated latest signals table for all the details on these and the other setups I'm following. I still haven't added my new copper setup to that list. It's in cash for the next few weeks, but large spec and small trader positioning has turned very bearish here too lately. That's led the setup to give a bearish signal with a four-week delay - meaning for the open the week of Oct. 17. Good luck next week.