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SMALL SPECULATORS HAVEN’T BEEN THIS BEARISH SINCE THE MARCH BOTTOM

By Ilene
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SMALL SPECULATORS HAVEN’T BEEN THIS BEARISH SINCE THE MARCH BOTTOM

Courtesy of The Pragmatic Capitalist

Due to high demand from our recent post on the Commitment of Traders report, we will begin regularly publishing our data and opinions on the most recent COT reports as they become available from the CFTC.

The latest data from the CFTC shows that small speculators remain overwhelmingly bearish on the markets.  The latest net bearish position has only been greater at one point all year – the week of the March 8th bottom.  Although this data should not be viewed as an imperfect indicator, it has proven to be prescient this year if used as a contrarian indicator.  Small speculators have been wrong about the market for the majority of the year and with a new low reading you have to wonder if sentiment isn’t too bearish again.  This could prove particularly bullish when you consider the fact that we believe another quarter of “beat and raise” earnings are just around the corner.  Short this market at your own risk….

SMALL SPECULATORS HAVENT BEEN THIS BEARISH SINCE THE MARCH BOTTOM

 

 

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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