It appears that the Non-commercials are net long, and the Commercials are net short based upon the latest report for both light sweet and WTI .
I am guessing non reportable positions means that these traders haven`t been classified as commercial/non commercial.
OPEN INTEREST: 2,773,140...
CRUDE OIL, LIGHT SWEET - NEW YORK MERCANTILE EXCHANGE Code-067651
OPTION AND FUTURES COMBINED POSITIONS AS OF 05/20/08 |
--------------------------------------------------------------| NONREPORTABLE
NON-COMMERCIAL | COMMERCIAL | TOTAL |...
Sorry folks the first 3 commitment of traders reports are all old, the last one is the government report dated with a May 2008 time stamp at the bottom, and seems to be the latest and valid source:)
Well, maybe that`s why price went down......lol, your right 5-yr....due diligence.
So, do you add the 2 Ice contracts together?
And what % of non physical delivery does it take to Move price over a 2-month, 3 month period given a certain bias?
What % of the Nymex market is...
Unless I am missing something, it appears that the ICE exchange plays a large role in manipulating price w/o the need of physical delivery-----So it looks like we have exploded another market myth!
I don`t know all the facts, I use the available knowledge I do have, use logical intuition and inferences, bet there is a whole lot of misinformation as to exactly what the facts are regarding the crude market.
The goal of this thread is to try and seperate the misinformation from the facts...
Are the commodity indexes and ETF`s "wharehousing" crude to account for investment dollars pouring into these financial vehicles, thus artificially taking supply off the market?
no they buy and roll near month futures contracts
With regard to Gold they do right?
Well, it seems that...
The crude futures market maybe at one time was a physical delivery market, but it has taken on the character of a paper traded market like a CROX market cap to some degree, we all knew Crox didn`t have that REAL size of market cap, it was paper market cap, il has been, especially with this last...
Isn`t the Future market setting the price for the spot market/cash market?
Are the spot market and the cash market the same thing just different jargon, right?
I thought the future market sets the price for the spot market to some degree.
Is the physical delivery system for CL any...
I have never taken physical delivery of any Commodity---but his assertion is that there is very little speculation in Oil b/c after 29 days the buyer has to take physical delivery.
Intuitively, there is something wrong with that argument b/c many CL participants are not taking physical...
Those guys voted when everything looked extremely bullish.
However, when your local cab driver tells you crude is going to 150, that`s a good indication, that the near-term top in CL is in:)
uso definately breaks 100 fast, 90 is the big support level to see if it holds that level, but ultimately sometime during the remainder of 2008 the USO will hit 85, we will see if it holds, if not then we will hit the 70`s...
Stay focused on the thread`s main question.
Ultimately your goal as a trader is to move beyond trading, and become a small player, and ultimately, a big whale, who makes the market!
I remember watching that kramer video where he talks about moving the futures before the open when he needed it to go a CERTAIN direction.
How many YM, ES, NQ Contracts does it take on average to dictate market direction, and will somebody bigger like GS always push you off your move?