For buy and hold-type investors, today was a great day for closing out the quarter, however...
Friday, June 29, 2012, 4:37 PM ETFor buy and hold-type investors, today was a great day for closing out the quarter, however speculators, by-and-large, got crushed. According to data from the CFTC, on net, speculators badly mis-positioned themselves for today's window dressing. For example: Traders cut their long positions in gold and silver, and boosted their copper shorts. But gold +3% and silver +3.3 % were both up huge today, and copper closed out +5%, killing the shorts.
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