Commitments of Traders (COT)
Commitment of Traders (COT) report is published by the Commodity Futures Trading Commission (CFTC).
CFTC divides traders into three groups: Commercial, Non Commercial (large speculators), Small traders (small speculators).
Commercial investors, companies that protect their Long positions (Hedging).
There are three options.
If true, Adds, Sum Long and Short positions of the selected type of investor.
If true, Shows the percentage of investors who have long or short positions.
The choice of the investor type data, you would like to view.
The best results, give on the weekly time frame.
Warning. COT is not derivation of price, it can give early warning of change in relationships on the market.
ng: Useful reading: Using COT Report To Forecast FX Movements by Kathy Lien @ informedtraders: Part I, Part II