October 8th – By CountingPips.com – Receive our weekly COT Reports by Email
Nasdaq Mini Non-Commercial Speculator Positions:
Large stock market speculators increased their bullish net positions in the Nasdaq Mini futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Nasdaq Mini futures, traded by large speculators and hedge funds, totaled a net position of 26,772 contracts in the data reported through Tuesday October 1st. This was a weekly change of 12,993 net contracts from the previous week which had a total of 13,779 net contracts.
The week’s net position was the result of the gross bullish position (longs) advancing by 5,311 contracts (to a weekly total of 75,051 contracts) while the gross bearish position (shorts) fell by -7,682 contracts for the week (to a total of 48,279 contracts).
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Nasdaq mini speculators sharply boosted their bets by the most in eight weeks last week following a sharp decrease (-21,014 contracts) the week prior. The bullish position has risen for four out of the previous five weeks and the overall standing has now been in bullish territory for twenty-one straight weeks, dating back to May 14th.
Nasdaq Mini Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -18,366 contracts on the week. This was a weekly shortfall of -11,345 contracts from the total net of -7,021 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the ONEQ ETF, which tracks the price of Nasdaq Index, closed at approximately $7695.5 which was a drop of $-39.75 from the previous close of $7735.25, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets.
The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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