Large speculators: those funds who sold massively last year and this year at
the bottom
Small speculators: small guys who did nothing last year but kept buying this
year since March
Commercial: MM who kept buying last year but swiched to selling since April
of this year.
It seems that commercial players have grabed the positions from large
specualtors last year at low and dumped them to small speculators this year
so far.
Which group have you been with?