Friday, September 3, 2010

Funny how Spoos rallied before the news

Either data services are FUBAR in terms of how they report data and time or a lot of people knew what the jobs report would say just before it came out. You make the call.

1 comment:

MrWave4 said...

Hi Michael,
Many years ago I met Larry Williams in Sydney at a seminar & he spoke a lot about how good the COT report is at telling you what the large spec's are doing.
I did some back testing recently as John Person's also raised this same point & its incredible to say the least how good the large spec's are at positioning when we come close to major turns.

If you look at the last 2 COT reports (I look at the CME emini ES contracts) when the S&P500 was close to major support the Large spec's were increasing there Net Long position while retail were increasing there Net short position.
Until we see a change in the large spec's the market is going to melt up.