Saturday, September 24, 2011

Speaking of Open Interest

from Zero Hedge,
 Bullish Dollar Sentiment Surges By Most In Years, As CFTC-Based Rumors Of Euro Demise Are Not Exaggerated
 "the euro is now massively oversold explaining why even the smallest of rumors initiates a furious short covering squeeze. And yes, the next bubble is now not in silver, not in gold, but in the dollar. The first sign of moderation of European stress, or a Hilsenrath piece on the next round of QE by the Chairsatan, and watch the DXY and the various USD pair collapse (and gold surge). "


No doubt.

But. A little context PLEASE.
click to enlarge
The above chart is from June 21 but still illustrates the increasing size of the open interest swings.
Very possible that spec longs in the USD increase to some new extreme of 40,000++.
We ARE in an extreme global sovereign event.

But while we are here ....Friday night's WTI spec. O. I.

 and context,
Do you think it overshoots on the short side too?

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