| Report Definitions
| ----------------------------------------------------------------------
|
| DATE Status date of the reported long/short Future Contract
| ---- positions; normally a Tuesday. Source is the CFTC report.
|
| WEEKS Weeks from last January 01
| FR LAST This provides a convenient way to express dates on the
| JAN 01 graphical representation (if provided for the specific
| commodity). JAN 01 of the current year is zero.
| JAN 28 is 4 weeks later and is 4
| DEC 01 of the previos year is
| 4 weeks earlier and is -4
| etc.
|
| DAY Date is expressed as Day/Month/Year
| MOS
| YEAR
| ------------------------------------------------------------------------
| COMMERCIAL CONTRACTS The quantities and analysis shown in the report
| below this header relate to the buying and selling
| activity of Commercial Traders.
| --------------------------------------------------------
| NET QTY Net Quantity, Long - Short
| LNG-SHT The value results from subtracting the number of
| short contracts from long contracts.
|
| Example:
| 2000 Long - 1000 Short = 1000 Net
| 50,000 Long - 65,000 Short = -15,000 Net
| --------------------------------------------------------
| NET CHG Net Change from Previous.
| FR PREV The value is obtained by subtracting the Net
| Qty(Long-Short) from the previous weeks value.
|
| Example:
| Last Week Aug 09 Net Qty(Long-Short) is 2000
| This Week Aug 16 Net Qty(Long-Short) is 3500
| Net Change from Previous is +1500
| --------------------------------------------------------
| NET COMM Net Index for Commercial Traders
| INDEX
| A summary of the weekly number of Long & Short contracts
| (that exceed reportable limits) that are held by
| Commercial Traders each week is issued every two weeks
| by the CFTC.
|
| For each commodity and weekly status a NET Value is
| calculated by subtracting the number of reported Short
| positions from the Long.
| NET = LONG minus SHORT positions.
|
| Over a given period (of weeks) the Index (INDEX) is
| calculated by:
| assigning an index value of 100 to the
| MAXIMUM NET position and
| assigning an index value of zero to the
| MINIMUM NET position.
| Pro-rata index values are assigned to
| IN-BETWEEN NET positions.
|
|
| There may be an increased probability of a price trend
| reversal at the zero or 100 value given a sufficient
| calculation span (see definition SPAN at the Commodity
| list). Also ref Chapter 14 of the Handbook of Technical
| Analysis.
| -------------------------------------------------------
| QTY Quantity Of Long Contracts
| LONG This value comes directly from the CFTC report and
| it is the number of reportable long contracts held
| by Commercial Traders.
| -------------------------------------------------------
| QTY Quantity Of Short Contracts
| SHORT This value comes directly from the CFTC report and
| it is the number of reportable short contracts held
| by Commercial Traders.
| ------------------------------------------------------------------------
| SPECULATOR CONTRACTS The quantities and analysis shown in the report
| below this header relate to the buying and selling
| activity of Commercial Traders.
|
| THE REPORT COLUMN HEADINGS UNDER SPECULATOR HAVE THE
| SAME DEFINITIONS AS FOR COMMERCIAL ABOVE -EXCEPT OF COURSE THEY
| APPLY TO SPECULATORS
|
|
| ------------------------------------------------------------------------
|
| SMALL TRADER The Small Trader may be both Speculator or
| Commercial.
|
| There is no reporting by the small trader, the
| figures simply reflect the difference between
| The Total Open Interest and the Reported positions
| as described above.
|
| ------------------------------------------------------------------------
|
| FUTURE PRICE The future price is the Future Contract Price
| on the specified date. Because Future Contract
| dates expire, the price used crosses from one
| contract delivery date to the next.
|
| ------------------------------------------------------------------------
|
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| ________________________________________________________________________
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