TFMR Podcast – Tuesday, June 3

A solid day for the PMs, despite a rally in the POSX. Down most of the day but rallying off of the overnight lows. This led to a steady bid on Comex and a steady bid for the shares on NYSE.

Tomorrow brings ADP and the service sector PMIs so…if the data is weak…and that’s a Big IF…we might get the POSX to give back all of today’s gains and spark more green candles for the PMs. The fun begins at 8:15 with ADP and continues through 10:00 ET with the ISM PMI.

For today, a discussion of the surge in open interest yesterday and what it infers for the CoT structure and…