Well after reviewing just on a preliminary basis and as well as reading one of the COT gurus takes on the new COT report, my preliminary conclusion is that the game is being rigged further. They are keeping some things the same but the added items are the ones that concern me.
If you think about the 2008 Crude runup and how that was perpetuated by the CFTC and their mis-classifying CIT funds as commercials, basically allowing speculators unlimited position sizes. Then combine that with that idiot or liar depending on how you look at it, Gensler who feigned outrage and vowed action. You have to conclude that this whole thing is just one rigged outcome.
It appears to me now that in the new report, the PPT may now be allowed hedgers position sizes and also have it be obscured to the point where we will not know, it makes me think that any meaningful decline could be off the board for quite some time. This is going to allow them to basically permanently rig the uptrend if I am right about this. I still need to read the other gurus review of this to see if he has different insights, but that is my preliminary take on this.
In the face of a record number of lies being told by the new administration, is the greatest one of all, the pledge for more transparency. This could not be more opposite of that. If I was not actually living through this period in politics I would simply never have believed this type of thing could occur in the US.
It appears to me that what has been decided behind closed doors is that they government is going to take over the stock market and make sure it does not go down. The reality of it is, this benefits alot of people but what I think will happen is that it will stay flat. In most socialist historical examples, things just kind of stay the same, the big swings are taken out. So, they are taking out the downside, but also likely the upside.
I will come back with more once I have reviewed this further.