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Managed Funds Raise Bullish Copper Bets
Mar 19,2012 13:12CST
industry news
Source:SMM
Managed-money funds got more bullish on Comex copper futures and options in the week ended March 13, according to data released Friday afternoon by the CFTC.

NEW YORK, Mar 16, 2012 (Dow Jones) -- Managed-money funds got more bullish on Comex copper futures and options in the week ended March 13, according to data released Friday afternoon by the Commodity Futures Trading Commission.

Speculative traders like hedge funds added 516 long contracts, or bets on higher prices, and shed 128 short contracts, or bets on lower prices, during the reporting period. This raised their net position to 14,259 long contracts, from 13,615 contracts a week earlier.

The net position is the difference between long and short positions held by traders in the category. Changes in the net position are widely considered indicators of shifts in trader sentiment.






 

managed-money funds; copper

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