“Big hedge funds and speculators cut their bullish bets on commodity markets by $17 billion in the week through Tuesday, the biggest bear turn since at least 2009, regulatory data showed on Friday.
The so-called “managed money” funds cut their overall net long holdings in 22 U.S. futures markets by over 222,000 contracts or 13 percent in the five days ended May 10, according to Reuters calculations based on the Commodity Futures Trading Commission’s weekly Commitment of Traders.
The data, based on both futures and options positions, confirm that some big hedge funds, commodity trading advisors (CTAs) and other major speculators dramatically pared back long positions during a week in which prices abruptly collapsed before staging a modest rebound.”
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I’m really shocked how quickly funds turned bearish, not just on commodities but on stocks. Fast sentiment swings like that risk sharp corrections.
Madame,
Please be kind enough to change your avatar to one of that of a Swarthy Pirate or similar XY-genomic functionary.
We would, with respect, suggest a new name as well. If we may be so bold, perhaps “Big Nick,” “Nicky Six,” “Nico Badass,” etc, etc.
As always, your patronage is much appreciated, but we would be wroth to find our beer-swilling frat boy image compromised by the presence of too many good looking intelligent women-folk.
Deepest respects,
Management
O.M.G.
alrighty then