Commercials -49582 (from -49639) Large Specs +29605 (from +28802) Small Specs +19977 (from +20837)
Commercials (64.3% of total o/i) - 54.0% of Longs, 74.6% of Shorts, balance minus 20.6Large Specs (23.3% of total) - 29.5% of Longs, 17.2% of Shorts, balance plus 12.3
Small Specs (12.4% of total) - 16.5% of Longs, 8.2% of Shorts, balance plus 8.3
Commercials have added to both longs and shorts, but their balance (both nett and proportionate) remains almost unchanged from the previous week - still tilted to the short side. Large Specs have reduced both longs and shorts, going slightly longer on balance, but not showing much confidence in their view. Small Specs have added very slightly to their shorts. Overall, Commitments remain (in our opinion) biased to the bear tack.
Spreads have been reduced slightly, but remain high - still denoting indecision?