Oct 09 2008
When will the small speculators learn?
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The poor small speculators have it well wrong again. According to the latest Commitment of Traders data for the mini S&P futures (shown below), they remained well long this market right through last Tuesday. Granted, they had cut back their longs from where they were a few weeks prior, but they were still on the wrong side of things.
No doubt some of the pick-up between September 23 and September 30 was expectation of the passing of the $700 bln bailout bill and the anticipation of a positive market reaction. Whoops. I’ll be interested to see how many are still long as of this past Tuesday when the next report comes out.
Meanwhile, the Large Speculators actually worked their way back to their most short levels in recent weeks. I’m much more inclined to watch them.
Here are some other posts which might interest you:
- Another Trap for the Small Stock Market Traders
- The Small Traders are Committed to the NASDAQ
- Speculators to Blame for Run Up in Oil? Hmmm…
- Stock Market Volatility is Telling a Story
- Today’s Trading Look-Back - May 7, 2008
thats why they’re small, dumb and poor…90% of traders lose, its survival of the fittest…probly 95% of CNBC of viewers are long all the way down cuz “this is a value investors dream” LOLOLOL BSC and LEH sure were good buys all the way down, right?