CFTC BASE METALS: Funds Extend Bullish Copper Streak-Shanghai Metals Market

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CFTC BASE METALS: Funds Extend Bullish Copper Streak

Industry News 08:46:55AM Feb 20, 2012 Source:SMM

NEW YORK, Feb 17, 2012 (Dow Jones) --Large speculators in Comex copper futures and options extended their bullish streak for a fifth week in the week ended Tuesday, according to data released Friday by the Commodity Futures Trading Commission.

Managed money funds added 1,812 long positions, or bets on higher prices, and shed 707 short lots, or bets on lower prices, over the reporting period. This took their net position up 20% to 14,817 long lots, from 12,298 contracts last week.

Traders in the category have added to their net long position for five consecutive weeks. Money managers turned bullish on copper in January, after a four-month bearish streak that started in September.

The net position is the difference in the number of long and short positions held by traders in the category. Shifts in the net position are seen as signals of a change in sentiment.

 

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CFTC BASE METALS: Funds Extend Bullish Copper Streak

Industry News 08:46:55AM Feb 20, 2012 Source:SMM

NEW YORK, Feb 17, 2012 (Dow Jones) --Large speculators in Comex copper futures and options extended their bullish streak for a fifth week in the week ended Tuesday, according to data released Friday by the Commodity Futures Trading Commission.

Managed money funds added 1,812 long positions, or bets on higher prices, and shed 707 short lots, or bets on lower prices, over the reporting period. This took their net position up 20% to 14,817 long lots, from 12,298 contracts last week.

Traders in the category have added to their net long position for five consecutive weeks. Money managers turned bullish on copper in January, after a four-month bearish streak that started in September.

The net position is the difference in the number of long and short positions held by traders in the category. Shifts in the net position are seen as signals of a change in sentiment.