Commitment of Traders

Commitment of Traders

Leveraged funds covered shorts across all three financial markets in the week ending September 15. S&P covered 38,000, Nasdaq covered 21,000, and T note funds covered 58,000. The Nasdaq net short is now just 2,689, nearly flat after sitting above short 80,000 a month ago. On the commodity side, soybeans liquidated 17,000 longs, copper liquidated 14,000, and RBOB liquidated 10,000. Wheat flipped back to net short at 4,706.

The financials moved in one direction and commodities moved in the other. Corn held steady at net long 427,000 while soybeans gave back 21,000 of the position built over the last several weeks. Copper pulled back 16,000 net from 82,000 to 66,000, driven by 14,000 longs exiting. Sugar liquidated 9,000 longs after four straight weeks of aggressive building, the first reduction since the position flipped long. Lean hogs added 7,000 new shorts to widen the net short to 31,000.