Hedge funds increased bullish bets by 11% during the week ending September 15. This was two days before the FOMC surprised the market with its dovish statement. Gold longs were cut by 75% ahead and just like back in August the market rallied strongly but primarily on short covering. Oil traders most bullish in two months as bearish bets continued to be scaled back.
from Ole Hansen - Authored content http://ift.tt/1j2cSUd
COT: Gold traders not prepared for dovish Fed
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