Gold CoT Improving, But…

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Gold’s CoT data predictably improved again this week, but here I think some discussion is needed just in case it starts to get hyped too much.

Below is the CoT on an improving trend of Commercial short covering and large Speculator long reduction. Okay, that’s good. But here is the part where the hype needs to be tuned out. The CoT tends to degrade (i.e. trend in a bearish direction during gold rallies) and improve (i.e. trend in a positive direction during gold corrections). The charts of CoT and gold below are set over the same 1 year time frames…

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Rest in Peace, Leonard

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Star Trek has always been a very big part of my life. Need proof? I dug out a scrapbook from my childhood. Click on the image to see these snippets in all their glory (Unrelated to this, I guess I shouldn’t be surprised to read about my Most Polite Boy award, which I had long forgotten; I am courteous to a fault, which is probably why Slope has survived as a bear blog in the midst of this insane bull market!)

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