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| Just read your last emailed report, thanks......
Are you familiar with Steve Briese? After recieivng youre reports I have been reviewing his Book I got last year (COT BIBLE) and am wanting to make sure I am understanding things correctly................
First off, as you mentioned in your last email and true trending market should be accompanied with an increase in OI.....
Secondly, to be using COT data as tool to spot trend changes.......following the Commercial Hedgers activity...(not taking same position but FOLLOWING it in the COT reports)...when the CommHedger's selling starts to slowdown and stops, that SHOULD be the TOP of the move, particulalry if it is a historically extreme position...am I understanding correctly? I think the trouble most people have is when someone says to "follow the commercials" people take that as a literal statement and go short because the Commercails have been shorting, when in fact what one should do is WATCH the Commercials position and THEN when the Commercails begin to slow and then stop selling that is probably the top of the move.
I am currently following the Sep Minn Wheat and the Dec KC wheat.................noticed the OI is very different between these two wheats markets.......both have been an a run upwards in price but MINN SEP OI is decreasing while the KC DEC has been increasing..........Can you elaborate a little?? I suspect maybe the two different futures months??
Thanks for all the time you put into the letters, a LOT of info is in those COT numbers!!
Buckwheat
finally getting some "hot" weather here, hit 90 above yesterday and we thought we were gonna die!! What will we do when it hits a hundred??? OK custom cutters showed up in town this past weekend, time to get inot drinkin shape!!!!!!!!!!!!!
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