COT Report Update – 8/23/2013

DX – dollar remains suppressed. Stronger EUR and GBP should push it further down.

Treasuries are down but mixed in their COT reponse. Looks like ranging here.

AD – aussie is looking like it’s found a floor here – stronger gold will help.

BP – looking to see the pound push up to 1.6.

CD – loonie looks like further down with the boost in oil due to Egypt unrest not contributing to any pop. Lower crude oil is a lower CD.

CC – cocoa has pushed to record high COT – can’t see this one getting much higher.

KC – poor coffee, what can you say? When Brazil steps in to support price – maybe right now…???

HG – finally got our pop in copper. We might see this touch $3.5 soon. But strange airs from China about the steel industry may depress copper in the coming months.

C – corn found a floor ~$5.00 a bushel? Maybe. The COT is as low as we’ve ever seen it. The comming farm reports will throw the grains in to a tizzy no doubt.

GC, SI – gold and silver, the drop in the dollar has given these two their much needed bounce. $1500 gold anyone? $27.00 silver? Not with out a retracement.

NG – nat.gas has had a nice bounce yet its COT has not budged from the lows. If the pattern holds, see a retracement to ~$3.30 or lower before we push back up to $4.0.

RR – rice bounced within its well defined range. But it’s stuck in the middle now – With a low COT it should push higher where a price above $16.20 should be a great short.

VIX – nice pop with the drop in the overall markets. But the COT continues down. A quiescent time ahead? Or is the shit about to hit the fan?

W – wheat continued to fall with a floor around $6.00 it looks like.

CL – crude oil, we called a top but Egypt said NO! Not much holding this puppy up now except for a declining dollar.


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