Oil and Gold Commitment of Traders Tell a Story

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 |  Includes: GLD, OIH, OIL
by: Carlos X. Alexandre

I just received the CFTC Commitments of Traders Reports, and the crude oil numbers among the vast plethora of information jumped off the page. I know that this piece hardly qualifies as an article, but the data speaks far better than I could articulate. No bias, no emotion, just numbers!

Crude Oil Futures
Trader Type Long Positions Short Positions Net
Producers/Merchants 217,821 381,387 Short: 163,566
Swap Dealers 219,864 247,981 Short: 28,117
Managed Money 249,262 56,214 Long: 193,048
Click to enlarge

It appears that "Managed Money" is betting against the "Producers." Now here is a game that I want to watch!

Interesting is the fact that the same story applies to gold, and I'm seeing the same pattern in copper and other commodities.

Gold Futures
Trader Type Long Positions Short Positions Net
Producers/Merchants 70,601 237,163 Short: 167,102
Swap Dealers 94,016 195,589 Short: 101,573
Managed Money 180,601 11,976 Long: 168,625
Click to enlarge

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.