COT (Commitment of Traders, see link below) from last week shows large traders short the Canadian dollar and long the Yen. Small traders are doing the opposite. This is directly related to the drop in oil and tells you that we could have more downside in crude. The Canadian dollar/ Japanese Yen is an alternate play for crude oil, Canada being a producer and Japan having no oil whatsoever.
This entry was posted
on Monday, September 04, 2006 at 8:55 AM.
