• If Lehman (LEH) isn't the second coming of Bear Stearns, won't "sell the rumor, buy the news" come into play?
  
  
Why can't I shake the sense that a serious downside dislocation is lurking in the wings this summer?


Given the massive two-sided directional potential, have you defined your risk (both ways) in kind?


After all, doesn't setting stops remove emotion?


Another day, another dime (10%) for WaMu (WM) the killer whale?


• What does it say that the New York Stock Exchange internals are still flat to the share?
  
  
• The kid' from Oakland - what did you expect?
  
  
How could it possibly take me this long to see Charlie Wilson's War?

R.P.

Each week, the Commodity Futures Trading Commission publishes a report known as the Commitments of Traders Report ("COT"), which breaks down aggregate trader positions ( "open interest") in certain futures and options markets into three categories: commercial, non-commercial, and nonreportable.

According to the CFTC, commercial operators, or "hedgers," are "engaged in business activities hedged by the use of futures or option markets." Non-commercial operators, or "large speculators," include individuals and firms, such as hedge funds, that engage in large-scale speculative buying and selling. Nonreportables, or "small speculators," comprise all other participants, including individual traders.