Time to expect some dow down and/or gold up ?

6/2/06 Gold COT Analysis

The COT chart plots are as follows;

1.Red = Commercials
2.Blue = Non Commercials {Spec's or Funds is the typical reference for this group}
3.Green = Non Reportable {Joe Sixpack and his mates..... The Public}

The Windows are as follows;

1. The net position relative to a moving average period {2 year in this snap shot}.
2. The net position {1,000,000 is neutral or 0 on this chart... its a fudge factor added due to Metastocks limitations in dealing with negative numbers}
3. % Change in OI
4. Volume. {Decrease in OI = Red, Increase = Green}
5. Open Interest.

The detail long short chart plots are as follows...

The Windows...

1. Commercial Long {Green} and Short {Red} positions. Added June 06 = Spread {White}
2. The % the OI that they own the long or short side of the contract.
3 Volume. {Decrease in OI = Red, Increase = Green}
4. Open Interest.

*NB.. These numbers are compiled on a Tuesday and released Thursday night US time. That means the weeks price action has largely occurred after the release of this data. COT numbers give an idea of the state of the market and are not a timing tool.







Net Position Chart



Commercial Position Chart