Big Surprise

Not by the Fed. If only. There were rumors of course, setting the stage for the disappointment, and as it turns out, it was a perfect sell the news announcement.

The Big Surprise seems to be handed to the oil specs... last Fri.s COT report shows specs added to net longs to 229,695  vs. 50, 148 short. Too bad.

 Doesn't look that bad?  Put it in context..

 This is a couple mo.s old but look at the explosion in spec longs mid 2010.....lots of liquidation to go.

If you are a regular reader you know that this move down is no big surprise in fact it's exactly what was expected
driven by the USD .


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