Video length: 00:16:04

I want to take a look at gold and currencies in this video. I see a lot of analysts making the same mistake of putting way too much emphasis on the COT reports. Commercials have a very poor record of being able to spot major turns in markets. They tend to hedge way too heavily and way too early in a rally when a major long term secular trend is beginning. They are stuck in the past assuming it what happened in the past will happen again.