Hedge Funds Ditch Equities In favour Of Oil, Copper

Hedge Funds are getting out of equities, edging back from gold, and and aggressively upping their bets on Dr. Copper, according to Bank of America analsyt Mary Ann Baretels in this week’s Hedge Fund Monitor report

“Large specs sold the S&P 500 futures last week and continued to aggressively decrease their longs in NDX futures. Reading have moved to a near flat position in the latter, but further down side risk remains. Additionally, they modestly added to their net shorts in the Russell 2000. HFs are still a source of liquidity and their potential buying power is now ~$9b, consisting of $4.5b in the SPX, $2b in the NDX and $2.5b in the R2000.”

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