Posted 1/14/2008 13:14 (#283059 - in reply to #283031) Subject: Re: Long buying or Short covering?
Need to look at OPEN INTEREST of the applicable contracts. If OI (open interest) or the number of contracts traded is increasing and Price is increasing I would say new buyers, not sellers buying back, on the other hand if OI is decreasing then it means prior sellers or buying back positions and leaving market.