CFTC Commitments of Traders as of 7/28

The Rbob Non Commercial (spec) O.I. was the most eye popping with longs at 60,131, + 780 , vs. shorts at 5962, - 4367. Call it 10 to 1.

WTI Crude O.I. is remarkably non remarkable with every category almost perfectly balanced.

Nat Gas continues to have a significant spec short O.I. at 250,008 +3365 (roughly 35%) vs. longs at 89,058 +857. The spec short O.I. has been on the high side for so long now that it's starting to feel normal.

Heating Oil spec longs were 45,903, vs shorts at 16,074.

All above figures are for futures only.

GDP Scrutinized

GDP a very popular topic this weekend, with Zero Hedge's contribution my fave;
"A Realistic Look At GDP"
The backward revision economic data train continues, this time in GDP, which came in at a "better" than expected 1% while the prior quarterly data was adjusted significantly downward from -5.5% to -6.4%. Additionally, per a brand new revision to the way GDP data is presented, the GDP decline demonstrated over the past year is now the largest since World War II. Current quarter jiggering aside, downward revisions to prior quarters have left the decline in real GDP at -3.9% in the year through Q2. And to demonstrate, the severity of this downturn, the Q2 data concluded the first three-quarter consecutive period of falling GDP since 1953-1954.

http://www.zerohedge.com/article/realistic-look-gdp