Fiber
On my spreadsheet I have the commercials increasing their net longs.
finiz.com shows an extreme long also being made.
This makes sense. The commercials are positioned extreme net long. As they start lessening their longs price will rise. Coinciding with an apparent low being made last week it would makes sense to think that we should have a retracement in the coming weeks.
So why is the closely correlated cable showing an extreme net short for commercials? I think the spreadsheet is wrong. It is showing an extreme net short. As in we haven't been this short in 5 years.
finiz.com also shows a net short but not as extreme. Their chart only goes back a year.
So we have two closely correlated pairs with opposite COT positions for the commercials.
Fiber makes sense to me. Cable does not. Especially because it is the stronger currency of the two so out of the two it would have a better likelihood of bullishness.
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