And I ain't losing track
Of which way I'm going
Ain't gonna double back
--Lou Gramm
Commitment of traders (COT) data suggest a healthy dose of optimism among equity index futures traders. Traders have not been this long S&P futes in years.
Traders have only been persistently long in three periods over the past five years: late 2006 as we were putting in a rounding top prior to the credit collapse, late 2008 into the lows of the selling cascade, and now.
position in SPX
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
1 comment:
We very much believe that, if you have a debased currency, that you will have a debased economy. The difficulty is in defining what part of our liquidity structure is truly money.
~Alan Greenspan, 2000
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