"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, March 18, 2011

Don't Buy It!

Lame brained, lazy MSM headlines like this, that is...
Gold gains as doubts rise over Libya cease fire

Pure, unadulterated crap.  You are in gold because you are concerned about the terror being perpetrated upon the currency in which you denominate your life, and little else.  The rest is noise.  MSM simply love to ghettoize the barbarous relic.

Now, onto this week's CoT Report for gold and silver.  Gold lurches toward healthy with large and little spec's selling and commercials covering.  Silver does the same.

Have a great weekend.

GOLD - COMMODITY EXCHANGE INC.                                       Code-088691
OPTION AND FUTURES COMBINED POSITIONS AS OF 03/15/11          |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short
--------------------------------------------------------------------------------
(CONTRACTS OF 100 TROY OUNCES)                       OPEN INTEREST:      735,415
COMMITMENTS
 251,258   45,643  168,449  238,750  492,485  658,457  706,577   76,958   28,838

CHANGES FROM 03/08/11 (CHANGE IN OPEN INTEREST:     -5,562)
 -17,342    3,116    6,349   16,082  -15,634    5,089   -6,169  -10,651      608

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    34.2      6.2     22.9     32.5     67.0     89.5     96.1     10.5      3.9

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      402)
     249       80      155       54       56      350      248
 
 
SILVER - COMMODITY EXCHANGE INC.                                     Code-084691
OPTION AND FUTURES COMBINED POSITIONS AS OF 03/15/11          |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short
--------------------------------------------------------------------------------
(CONTRACTS OF 5,000 TROY OUNCES)                     OPEN INTEREST:      190,497
COMMITMENTS
  47,736    8,289   61,405   42,955  101,417  152,097  171,111   38,400   19,385

CHANGES FROM 03/08/11 (CHANGE IN OPEN INTEREST:      1,676)
  -3,647      563    2,221    1,579     -927      153    1,857    1,523     -181

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    25.1      4.4     32.2     22.5     53.2     79.8     89.8     20.2     10.2

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      199)
      99       40       64       40       49      162      134