TRUST ME, Wall Street will be as net long BTC as they are
net short gold!
Not exact matches
According to the annual hedge fund manager rich list compiled by Absolute Return magazine, huge bets on
gold and a market recovery
netted Paulson US$ 4.9 billion in 2010, beating his record in 2007, when
shorting the market earned him US$ 3.7 billion.
Non-commercials have decreased their
net - long position, cutting 6,120 gross
gold longs and adding 6,197 gross
shorts.
«The
net position in
gold slid 13 % for managed money and
short bets jumped 37 %,» he said.
A macro trade entirely built around the framework of «US domestic growth and reflation» + pro-business policy mix + a sprinkling of «animal spirits» = long Spooz / long Russell / long value vs growth / long cyclicals vs defensives /
short FY /
short Eurodollar futs (largest
net spec
shorts ever recorded per last Friday's CFTC data) / long CNH / long copper vs
short gold /
short EM /
short EUR /
short Yen» again almost singularly hinges on the Dollar.
The low
net short in
gold for the commercials banks occurred in the December 1, 2015 COT report.
The numbers presented above would suggest that both
gold and silver will not be set - up to embark on a major move higher until the both the total open interest in
gold and the
net short position in
gold of the commercials banks declines by another 60 - 70k contracts.
A high open interest tends to correlate with a bearish COT structure — i.e. a high commercial bank
net short — and a low relative o / i correlates with a cyclical low - point in
gold.
Currently, the large specs are
net long 166.5 k
gold contracts and the commercials are
net short 188.8 k contracts.
A «significant shift» in
net long positions in three - month
gold futures may affect prices at the margin in the
short term, but tells us little about real investment demand.
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In
short, most of the population attributable to growth has a
net worth that precludes any demand for
gold.
Additionally, we look forward to potentially seeing a neutral CoT report in
Gold for the first time since traders were
net -
short in 2015; we all know how that turned out....