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Long Stocks, Long Dollar, Short Gold | Jason Shapiro
Forward Guidance
The Difference Between Speculators and Commercials
When you open up a futures account, you have to declare yourself a commercial trader. So that's what the red bars are. Those are the commercial traders, right? And then everybody else gets thrown into being a speculator. Now if you are a speculator and you have, there's a limit in each market, I don't know what they are offhand, but let's just say, since we're looking at S&P 500 S&P contracts,. If you have 500 or more S&P contract, you are declared to be a large speculator; yellow is small speculators.
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