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Hedge Fund Spec Interest at 11-Week High


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#1 Rogerdodger

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Posted 28 February 2017 - 09:17 AM

Hedge Fund Gold Buying Pushes Speculative Interest To 11-Week High

“While gold has recovered more than 50% of the July-December selloff, the net long has recovered by less than 20%. This highlights how funds have struggled to find a strong enough reason to get back into gold amid worries of rising dollar and bond yields. With both of these risks now fading, we are seeing underlying support from funds playing catch-up,” he said.

Although funds have had a an inconsistent interest in gold so far this year, they remain extremely bullish in silver as net bullish positioning increased for the eighth consecutive week, according to the latest trade data.

The disaggregated report showed money-managed speculative gross long positions in Comex silver futures rose by 5,6701contracts to 89,710. At the same time, short positions rose 404 contracts to 12,278. Silver’s net length now stands at 77,432 contracts, up 7% from the previous week.

 

Gold-could-retreat-back-to-$1,200-on-technical-and-fundamental-factors

 

RSI Oscillator is currently pointing to overbought levels, while prices are close to a reversal point at the 61.8% Fibonacci level at $1,280.10.
That level also coincides with the possible end of the potential ABCD pattern.


Edited by Rogerdodger, 28 February 2017 - 09:20 AM.


#2 jabat

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Posted 28 February 2017 - 10:31 AM

http://www.kitco.com...st-Options.html



#3 dougie

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Posted 28 February 2017 - 12:34 PM

Did you catch DUST yesterday RD?

Hedge Fund Gold Buying Pushes Speculative Interest To 11-Week High
“While gold has recovered more than 50% of the July-December selloff, the net long has recovered by less than 20%. This highlights how funds have struggled to find a strong enough reason to get back into gold amid worries of rising dollar and bond yields. With both of these risks now fading, we are seeing underlying support from funds playing catch-up,” he said.
Although funds have had a an inconsistent interest in gold so far this year, they remain extremely bullish in silver as net bullish positioning increased for the eighth consecutive week, according to the latest trade data.
The disaggregated report showed money-managed speculative gross long positions in Comex silver futures rose by 5,6701contracts to 89,710. At the same time, short positions rose 404 contracts to 12,278. Silver’s net length now stands at 77,432 contracts, up 7% from the previous week.
 
Gold-could-retreat-back-to-$1,200-on-technical-and-fundamental-factors
 
RSI Oscillator is currently pointing to overbought levels, while prices are close to a reversal point at the 61.8% Fibonacci level at $1,280.10.
That level also coincides with the possible end of the potential ABCD pattern.



#4 Rogerdodger

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Posted 04 March 2017 - 11:56 AM

Jack Chan has been having a tough time in gold this year.

Although my Feb 7th  post about the dollar breaking a downward trendline as MACD turned up should have been a warning, Jack Chan style.

 

 KITCO's pollees have also been wrong footed, with fairly high bullish readings going into last week's plunge, i.e. 65 & 68% Bullish a week ago.

 

Main St., Wall St. Look For Gold To Extend Rally February 24, 2017

They seem to follow market direction but clueless at finding turns.

 

We Interrupt our Regular Update with this Special Report

Summary

We have been monitoring COT data for the past seventeen years, and by observing speculative activities, it has helped us to identify the speculative values of a bull and bear market. The latest data has alerted us to the potential return to a bear market. Caution is advised.

Jack Chan

 


Edited by Rogerdodger, 04 March 2017 - 12:06 PM.


#5 Russ

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Posted 04 March 2017 - 01:01 PM

Eric Hadik seems to have got it right so far.... "Gold stocks selling off from cyclic peak on Feb. 8–9th… as Gold & Silver prepare for intermediate peak.  Multiple indicators & divergence project overall (initial) XAU & HUI drop into March 1–3rd… with the potential for additional downside after an intervening bounce."   ...... http://40yearcycle.c...ocks-declining/ 

 

 

My work was projecting an XAU high for March 3 which appears to have exactly inverted now.  


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#6 Smithy

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Posted 04 March 2017 - 08:46 PM

Yes it is inverted and yes you nailed it (again). In the light of this, what's your view going forward?



#7 Russ

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Posted 05 March 2017 - 12:40 AM

Yes it is inverted and yes you nailed it (again). In the light of this, what's your view going forward?

 

Well the XAU chart had the date correct but not the level, nonetheless since it projected the turn point, that implies there should be a rally now but I am as nervous as a cat in a room full of rockers.. lol  I have been in cash for a couple of weeks now. I will post if I see something else on the charts. 


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/