Looks like the silly season is upon us a little early this year. I'm talking about the often-wacky September-October stretch, which sometimes sees hiccups, crashes and other assorted market mayhem.
To wit, the latest Commitments of Traders report has turned my latest signals table somewhat upside down, with a mess of new signals:
- S&P 500: Happily bullish since March 18, the "smart money" commercial hedgers have finally given up the ghost. Their heavily bearish net futures and options position as a portion of the total open interest puts my signal into the bearish column with a two-week delay (i.e. on the open the week of Aug. 26).
- Natural gas: My su-weet signal for natural gas stays bearish one more week - now that one's been a cu-raaaazy ride - then I'm back in cash.
- Gold and silver: These two dogs are finally going from bullish to cash on the coming week's open of trading.
Good luck this week.
No comments:
Post a Comment