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If you trade commodities, you must check this out
Getting ahead in the highly competitive world of financial trading can come down to a matter of knowledge of current market trends. For individual traders, amassing this industry information can sometimes seem like an insurmountable task. Fortunately, the Commitment of Traders (COT) report helps level the playing field, providing detailed investment insight to all traders.
In the bottom right corner of beta.TradingFloor.com, Ole Hansen, Saxo Bank’s Head of Commodity Strategy, publishes the latest COT report every week. The report provides a baseline for traders to decide: whether or not to take a long or short position, if the market is overextended, and details of any sudden shifts. This type of comprehensive insight from major hedge funds in the US can be invaluable to individual traders.
Diving into the COT report, Ole provides an example of the type of information that can be discerned. On Tuesday, January 28th, gold saw the biggest net-long increase since July 2013. Usually this would be categorized as bullish, but by using the COT report Ole is able to tell that this change is actually due to the scaling back of short positions, with minimal long positions being added.
The report is released every Friday in the US at 3:30 (EST).
02:18 minutes
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