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RC COT *PIC*

The highs and lows were both made on the last day of the COT period. This was the day that July RC spiked $65 in seconds. The participants of this rally could have been any sector but likely all sectors were involved. The drop of 21k in the total OI is dramatic which is attributed for the most part to the large number of EFP posted. What is interesting is the big move that this market experienced. It appears that commercials were buyers and sellers throughout the period and possibly involved in the spike, institutional and large traders were also sellers and small traders were buyers with managed money. RC was generally steady and ignoring, relatively speaking, the dips of KC. The arbitrage was consistently on the low side representing a steady RC. Spreads maintained their premiums in JulSep and have been even in the forwards. This is what a bullish COT resembles. If KC could only mimic RC we would have a healthy market.

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RC COT *PIC*
Re: RC COT ... EFP number of ~11,K lots ...
Re: RC COT EFP number of ~11,K lots( LeGrai)