Good to hear from you Ax. The last 18 months have been boring but somehow I think the next few months and years are going to be interesting. Nice to have a new thread to discuss and monitor the market. We've all grown a little older and hopefully a little wiser in the last 6 or 7 years . . . LOL
This sort of pattern should be more common now IMO. I think we have the commercials selling their short positions to the hedgies, they will step back to embolden the hedgies then they will cover smart, not so strong as to scare them away. When they are done they will go long and we will see a hedgie wedgie, I reckon we have a fair chance of seeing the commercials net long for the first time since the bull began.
The brain dead algo funds where once the bullion bank's patsies, IMO they have been swapped out for the hedgies. Hedgies are smarter and harder to trap but the bullion banks have all the tools they need to skin them.
I forget who said it but its a quote of sorts....
We have 9000 hedge funds, which is great but we only have around 100 people qualified to run one!
As a group hedge funds are now a dumbed down, over leveraged, group of patsies. If it where not for the leverage they'd be amusing and harmless, with leverage they are like my toddlers wielding a shot gun.... they are gunna do some damage!