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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 TypeLong PositionsShort PositionsNet
Producers/Merchants217,821381,387Short: 163,566
Swap Dealers219,864247,981Short: 28,117
Managed Money249,26256,214Long: 193,048

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 TypeLong PositionsShort PositionsNet
Producers/Merchants70,601237,163Short: 167,102
Swap Dealers94,016195,589Short: 101,573
Managed Money180,60111,976Long: 168,625

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

Source: Oil and Gold Commitment of Traders Tell a Story