The funds have had a very rough time attempting to trade this market over the past two years. The funds were record long 488,901 contracts in February 2014, the very week the market set a six year spot contract high.
Two weeks ago, the funds had nearly abandoned the market with a net long position falling to a 3-year low. At the time, this was considered a bullish "contrarian" indicator.
In last week's trade, the fund long position increased by 51% or 32,564 contracts to a net long position of 96,565 contracts.
The funds are back in the natural gas market attempting to play the summer rally higher.
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