Loading ...The Most Useless “Information” for Trading Gold
The COTs ( Commitment of Traders in the Comex Gold Futures Exchange)
Every so often the goldosphere gets all hot a bothered by the COTs
Many claim the “Commercials” always are an indicator of what the Price of Gold will do
Recently the Hype was all about the fact that the Commercials were net LONG for the first time ever
(PS the Commercials are Always net short because that’s what commercials do…they sell gold)
I am certainly no expert on this market …however I ask you all…have you ever made a good trading decision based on COTs ?
First of all they are reported 3 days after the information is gathered….whats that all about….gives the big players time to position ahead of the small specs (us) ?
Anyhow The Commercials being Long for the first time was supposed to signal a Huge Rally in Gold
https://snalaska.com/cot/current/charts/GC.png
PPS ….looks like there is not much interest in gold at the moment…The Open interest line is way down there
COTs Schmots
Useless
Good question Fully. Not sure how to quantify the connection between COT reports and price charts, so I tend to ignore COTs for my own trades. I’m guessing it’s more important for larger commodity trading desks or hedge funds that move size everyday. At scale, larger players compete against other larger players, so relying on price charts alone likely isn’t enough. Or, like you mentioned, COTs could be manufactured “fake news” for smaller players.
Haha.. agree Fully.
I love how spun to be bullish or bearish when being net long/short more of a hedging mechanism.
yup, too much noise just like the newsletter pumpers. Focus Focus 🙂
Durring the partial U.S. Government shutdown the Commitments of Traders data will not be available
There is no estimate of when the data will again be available.
THere you go FGC – apparently no one missed this “missing”data (last report was dated December 18th,2018)
Ha….I bet when they next report the “commercial short position will be a whopper.
All BS IMO
Comex isn’t the only futures game “in town”
So whatever you are seeing on these is only a partial picture of the net exposures of the key players.