For over two decades, the U.S. Dept of Agriculture has been publishing weekly sentiment interest levels on a large grouping of U.S. futures markets. The purpose of these weekly reports is to make traders aware of the classes of traders who make up the mix of market interest.
Traders are broken down by open interest into three categories: namely, large speculative interests, commercial interests, and small trader interests. As the prevailing theory reveals the large speculators and hedgers (commercial interests) are more often correct in their assessment of market direction, whereas the small trader is most often to be wrong in his assessment.
Steve Briese of the Bullish review takes the open interest figures and assigns a percentage weight to each category for each regulated commodity. The database supplied through CSI’s Yahoo store is the only authorized vendor of such statistics. Some vendors may have passed on the copyrighted information found on this CSI source, but if they exist, they are not authorized to sell the information.
Steven Briese also publishes the “Bullish Market Review,” which reports weekly on his interpretation of various market opportunities derived from the sentiment statistics. Mr. Briese’s account, available from this site, includes very early history on the mix of markets. The data originally sentiment data provided by the USDA contained massive errors introduced by the government, but Mr. Briese cleaned up the data for general use.
The weekly Bullish Review reports are also made available from Welles Wilder’s Delta Graphics system which enjoys a spectacular record of advisory accuracy. Mr Wilder has reported that the Bullish Review sentiment indicators available here are very important in assessing future market direction. Delta Graphics can be reached at (336) 698-0500. Please feel free to report CSI as your referral source.
The early frequency of the C.O.T. data was bi-weekly, but later in the collection effort the USDA moved to a weekly release schedule. Mr. Briese can be contacted at Sales@BullishReview.com, or you may visit his website: www.BullishReview.com
There are roughly 44 major commodities supported in the USDA weekly reports and edited by the Bullish Review, and the entire history is made available through the CSI Yahoo store. If you would like to remain current on market sentiment after you download the historical information, we advise subscribing to the weekly bullish report which can be made available to subscribers as a faxsimile transmission from the Bullish Review. Weekly updates are also available from CSI’s Yahoo store, but the Bullish Review commentary is only available directly from the Bullish Review.
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