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Is the smart money always right? Take a look for yourself with the Commitment of Traders report as published by the CFTC and released every Friday. Note the large drop in OI in mid-March as small specs went bullish and big players reversed or just dropped out of the game altogether.
This hearkens to a point that popular Zerohedge blogger has repeatedly made - the stock markets are run by hi-fi trading machines and not real volume.
