Commitment of Trader's Report - Fund Long Position In Natural Gas Collapses

The Commitment of Trader's report released on Friday by the CFTC showed a marked drop in the existing fund position in the natural gas market held by the hedge funds.

The long futures position held by the funds plunged by 35,459 contracts to a current position of 27,956 contracts as of last Tuesday's close.

The funds keep trying to get long the natural gas market only to quickly sell the position out as prices fall back toward a 3-year price low.