Morning guys!
Hope you’re all having a great weekend. I was going to get my 8 hour sleep. But lately this thing has been my everything. I’m on it 24/7 whether I like it or not. I think I’m going to have dreams about this soon :30:. The challenge never ends. There’s always something to learn.
And Mike, everyone of us contributes to this thread in our own way. We’ve already come a long way. While I do believe we must improve the quality of our work its not about taking credits or who’s doing a better report. Your stats do provide us current sentiment, happenings during the week. And I’m sure its already a lot of work. If you really needed improvement trust me , FE or some of us /Philip/ would have pointed it out.
Someones been occupied lately and I was wondering if he had some secret project going on the side besides our thread… you’re getting very creative about paper not having 3 sides FE, maybe you’ve had too much of that project :20:
COT report as of 7 Oct’14
The commdolls
AUD, CAD and NZD
Non commercials: Specs have been net sellers of AUD and CAD for the 2nd consecutive week since their net position reading changed from positive to negative. Last week specs have added on their net position /shorts/ on both AUD and CAD. AUD net position /shorts/ had quite a jump from -2017 to -26486.
As for NZD specs have turned net sellers since last tuesday and its first net negative reading since 8 Oct 2013. NZD has had net negative readings in the past , all time high net negative reading was at -7979 in 2009. However this was after global financial crisis while US was still struggling much has changed since, what was an extreme in 2009 maybe not be an extreme in the future or in present.
Commercials: Commercials have been net buyers of commdolls AUD, CAD for a while now. And last week they have added on to their net position /longs/ across the board. Commercials are now net buyers of NZD.
AUD down to 0.8748 from 0.8823, NZD down to 0.78 from 0.7956. CAD up 1.1163 from 1.1095.
The majors
GBP and EUR
Non commercials: Specs have changed their net position from positive to negative last week on GBP. And they have been indecisive on pound for the last 4 weeks. As for EUR they have added on to their net position /shorts/ for the 2nd consecutive week. Current euro net negative position readings is quite far from all time extreme.
Commercials: Commercials have been net buyers of GBP and EUR for a while now and last week they have added on to their net position /longs/.
GBP down to 1.6151 from 1.6323 and EUR down from 1.2773 to 1.2656.
The safe havens
JPY and CHF
Non commercials: Specs have reduced their net position /short/ on both yen and franc however they still remain net sellers of JPY and CHF. Specs all time extreme readings are quite far for the moment.
Commercials: Commercials have been net buyers of both franc and yen for a while now. Last week they have sold some of their yen longs and added more to their CHF net position /longs/
JPY up to 109.2085 from 109.04, CHF up to 0.9559 from 0.9451.
Conclusion
AUD - bearish
CAD - bearish
NZD - bearish
GBP - neutral
EUR - bearish
JPY - bearish
CHF - bearish
I’m going to scan through my charts and will share my setups for the week. I’ll be most likely going long on dollar across the board. And from this week onwards I’m going to go by my system, I’ll test it out. Hopefully it will prevent me from jumping in early in the midst of correction and maximize the profit and keep losers minimal.
I’ll be back in the evening!