[bruinbirdman]

"May I commend to your attention the study of the ''open interest'' in the various futures exchanges: NYMEX"

I'll bite

"The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. , announced today that its crude oil futures contract reached record open interest levels for the third consecutive day."

What am I learning, or not as a matter of fact.

yitbos

[SAJ]

When open interest is rising, as here, and the market is moving sharply lower, as it has for much of this week, the only logical conclusion is that new capital is entering the mkts on the sell side.

Actually, crude OI is rising just a little bit over the past week. Natgas OI, though, is off 30K contracts in a week's time, and the mkt is down some 6-7% during that period, This is clearly the liquidation of long positions.