...the Commitment of Traders report shows the ER2 non-commercial traders are heavily short (I know it's a stale report by now)....commercial trader sentiment doesn't seem to reflect this gap at all....what is causing this, and do you see it as a trade opportunity?
Even the losers get lucky from time to time. The COT report may not take into account options trading volume. The commercials and large-spex may be offset over there.