In the Canadian dollar's defense, there is still modest scope for optimism: Energy prices have room to potentially nudge higher (although much of the good news is already in the oil price), fears of a border adjustment tax have faded alongside expectations for broad - based tax reform, and net
speculative positioning in the Canadian dollar is already particularly bearish (see the chart below).
As the exchange rate appreciated through to late November,
speculative positioning in Australian dollar futures on the Chicago Futures Exchange rose to record levels.
In France, the unravelling of
speculative positions in the stock market in 1882 led the Banque de France to provide secured loans to the Paris Bourse.
He added: «When a businessman takes
a speculative position in compromising his wife's claims, why should the court subsequently relieve him of the consequences of his speculation by rewriting the bargain at his behest?
Not exact matches
[T] he dramatic increase
in leveraged bond
positions by both US hedge funds and mundane money managers set
in motion self - reinforcing liquidations once uncertainty over emerging markets including Turkey, Venezuela, Mexico, and Malaysia - all of which experienced sharp capital flow volatility - put pressure on
speculative positions.
Therefore we expect the decline
in interest rate futures, specifically the 10 - year Treasury Notes and 30 - year Treasury Bonds to be a temporary effect of
speculative exuberance, and for interest rate futures to rally through the end of the month as the heavily short speculators are forced out of their
positions.
That means that a significantly invested
position in stocks is out of the question for us, regardless of any
speculative prospect for a short term bounce.
Over the past several years we have seen a few amazing moves
in futures
positioning in a number of commodities, such as e.g.
in crude oil, where the by far largest
speculative long
positions in history have been amassed.
That said, anybody attempting to speculate on the short side of coffee should respect the fact that the Arabica futures traded on the ICE exchange
in New York currently have the largest
speculative short
position seen
in over a year.
Since September 21, more than 80 % of
speculative positions on bitcoin have been long... Analysts have also noted a major change
in market confidence over the past two weeks, as investors looked past a series of negative news headlines involving bitcoin.
That said, a sufficient improvement
in trend uniformity would indicate at least moderate
speculative merit for market risk, and would place us
in a more constructive
position.
Financial services group Nordea, which banned its employees from engaging
in off - the - clock cryptocurrency trading earlier this year, said at the time that financial institutions often «restrict the personal account dealing of staff to prevent them taking
positions in speculative investments, or which might expose them to a risk of financial loss and therefore impact their financial standing.»
According to Kitco News, citing Commodity Futures Trading Commission (CFTC) data, money managers increased their
speculative long
positions in gold futures by 34,928 contracts to a total of 183,080 for the week ended March 27.
Some are betting on further declines;
speculative short
positioning is at three - and - a-half year highs
in the futures market.
As an aside, the biggest ever
speculative net short
position in silver futures (of more than 10,000 contracts) was recorded
in late July 1997 — with silver trading at $ 4.43, then the low of the year.
This is because the
speculative net - short
position in Yen futures is not far from an all - time high.
It's a similar story with silver,
in that the price decline of the past two months has been accompanied by almost no reduction
in the total
speculative net - long
position in Comex silver futures.
This was such an unusual and unexpected development that we felt we had to mention it
in these pages (note: as of last week the
speculative position has returned to net long 6,186 contracts, which is still very subdued exposure for this group of traders).
For the past few months the net
speculative long
position in euro futures has hovered near an all - time high.
While there has been a substantial scaling back
in speculative short
positions against the US currency
in recent months, especially vis - à - vis the euro, there is little sign that long
positions in the Australian dollar have been trimmed.
As noted
in the earlier post, what I refer to as the total
speculative net
position takes into account the net
positions of large speculators (non-commercials) and small traders (the «non-reportables») and is the inverse of the commercial net
position.
In May of this year the total speculative net - short position in Canadian dollar (C$) futures hit an all - time high, meaning that the C$'s sentiment situation was more bullish than it had ever bee
In May of this year the total
speculative net - short
position in Canadian dollar (C$) futures hit an all - time high, meaning that the C$'s sentiment situation was more bullish than it had ever bee
in Canadian dollar (C$) futures hit an all - time high, meaning that the C$'s sentiment situation was more bullish than it had ever been.
There has been a roughly $ 100 pullback
in the price from its early - September peak, but notice that there has been a relatively minor reduction
in the total
speculative net - long
position.
The following weekly chart shows that the total
speculative net - long
position in Comex gold futures hit an all - time high
in July of 2016 (the chart only covers the past three years, but I can assure you that it was an all - time high).
These changes coincide with
speculative COMEX short
positions at record levels, as indicated
in the Meridian Macro chart below:
The blue bars
in the middle sections of the charts that follow indicate the commercial net
position, so the inverse of each of these bars is considered to be the total
speculative net
position.
More recently, the relatively small size of the
speculative net - long
position in early - July of this year paved the way for a tradable rebound
in the price, but by early - September the
speculative net - long
position had again risen to a relatively high level.
We have no idea what actually motivates the recent
speculative position, particularly
in view of the fact that other industrial and precious metals (silver is both) are generally getting a lot more love.
Finally, the CFTC's Commitments of Traders (COT) report shows that large
speculative traders are holding a record net long
position in the euro, a polar opposite
in sentiment toward currency relative to last year.
Subdued investor activity has been apparent
in speculative positioning data indicated by the CFTC Commitment of Traders Report as well as gold ETF flows.
When heavy «risk - on»
positions established
in recent months are forced to squeeze out through a narrow exit, large price adjustments may be needed, since investors who are less tolerant of
speculative risk seem unlikely to respond with the requisite demand until improved valuations provide a sufficient incentive.
In the Strategic Growth Fund, that puts us in the position of being fully hedged, but with a small speculative call option position that I would expect to increase toward 2 % of assets if the market pulls back somewhat further without a significant deterioration in market internal
In the Strategic Growth Fund, that puts us
in the position of being fully hedged, but with a small speculative call option position that I would expect to increase toward 2 % of assets if the market pulls back somewhat further without a significant deterioration in market internal
in the
position of being fully hedged, but with a small
speculative call option
position that I would expect to increase toward 2 % of assets if the market pulls back somewhat further without a significant deterioration
in market internal
in market internals.
However, the Australian dollar remains one of the few currencies
in which market participants continue to have long
speculative positions relative to the US dollar (Graph 24);
in the case of the Japanese yen, Canadian dollar and Swiss franc,
speculative positions against the US dollar are short.
While market sentiment towards the Australian dollar remains positive, there has been a scaling back of
speculative long
positions in Australian dollar futures, albeit from high levels.
So while it's probably unwise to back up the truck with this
speculative biotech stock, I do think it's worth owning a small
position in case oliceridine hits pay dirt next year.
That identified a reasonable opportunity to establish a
speculative position at controlled risk, even
in a market that was historically overvalued and on course to advance further.
The US Commodity Futures Trading Commission (CFTC) will unveil its new rule on
speculative position limits
in the next six weeks, after its previous effort was rejected
in an embarrassing court ruling, says commissioner Scott O'Malia.
When the divine meaning of the event is made to depend upon views of Jesus» divinity and when the presence of Christ
in the church is made to depend upon a belief
in the Resurrection, we cut the solid ground out from under the whole Christian
position; we invest the purely
speculative with an importance it does not possess and rely on it to perform a function it can not perform; and we open the door to discord and division.
Dean suggests that American religious empiricists may have lapsed into objectivism at times, but a third
position of
speculative and radically empirical realism, a religious historicism, holds up well
in the current forces of deconstructionism, neopragmatism, and language philosophy.
I consider ours the Twentieth Century
position in constructive or
speculative philosophy.
Speculative investors have built big
positions in sugar futures, with hedge funds owning one - quarter or about $ US5.35 billion ($ 7.3 billion) of the New York sugar - futures market.
«Wenger looking at wonderkid — typical cheapskate Wenger» or «Wenger can't close a
speculative deal for a top, young prospect who plays
in a
position we need».
«[There are] hundreds of
positions funded for just six months and tens of millions
in potentially
speculative revenues.»
The letter above is an example of «persuasive writing», and is intended to emphasize one point of view and to make
speculative claims
in favor of the author's
position.
If you're lucky, some of the ads will be related to the
position you have
in mind, which will give you a few example job descriptions to help you structure your
speculative CV.
Peter says «I don't know,» but
in truth we all don't know: dietary science is complex and all of our
positions are somewhat
speculative.
If I were managing bonds at present, I would be giving up yield at present by selling my
speculative long bond
positions that served me well over the past few months
in my model portfolio.
For Pattern Day Trading accounts, a short option that is opened and closed
in the same day is considered to be a
speculative trade; therefore, the account will be held to the naked requirement on the
position.
Among the main risks affecting the funds, ProShares warns of inherent volatility associated with futures markets as well as the risk of holding
speculative short
positions in the portfolios, which could expose the investor to losses.
if you have a stock
position that is sitting on massive gains (either from being very
speculative or having held it for a long time), you can transfer it
in to the TFSA, sell, and then withdraw it and reinvest it outside.