From the desk of Tom Bruni @BruniCharting
In the futures markets, commercial hedgers are considered the “smart money” because they deal in a business that the asset they’re trading is related to. On the other hand, speculators are simply outsiders looking to benefit from the price movements in that asset.
Hedgers also have much deeper pockets than the typical rank and file speculator, so when they’re making extreme bets in one direction or another…we want to be paying attention.
…And right now, commercial hedgers are selling Copper like there’s no tomorrow.