Commitments of Traders

I've just seen the book Commitments of Traders by Floyd Upperman and was wondering if anybody has read it? I know that Alleyb talks about the commitment of traders all the time and am interested to know if he's read it?

Here is part of one of the quotes about the book:

quote:

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COT data is absolutely the most crucial data available to forecast long term market direction. Else why do the large players try to hide where they are headed with their trades? And it is not just the commercials, it is all the large players. If a small trader can see where the large ones are going, if he is astute, he won't be a small one for long. In "Committments of Traders", Mr. Upperman does what I am not able to do. He demonstrates his exceptional ability to analyze more data than I even know how to find. He does work that I have neither the time nor skills ... nor desire... to do.

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No I have not read the book But I consider the COT report as a very important piece of information in the trading armoury.
The problem that I see with the majority of anlysts that I have read over the past year - for it is within the past year that suddenly so many people have discovered the COT report - and publish stuff on it is: They do not follow the flow.... blindly suggesting that the spec are always wrong...not true they are trend followers .. or that blindly following the commercial is correct...not true they are responsive traders and build super long time frame positions that are frequently offset by another commodity AND are frequently way early with consequent drawdowns that many undercapitalised and non diversified accounts cannot withstand...... The majority of COT reporters do not build up a picture of the flow nor figure out the cross market positions and implications
It takes me any part of 2-3 hours to put my report together for regurgitating spec short record number of xxx product is in itself little value imho. There is one other way to look at COT flow but without the breakdown and that is to look at open interest movements which STILL today are reported one day in arrears by the exchanges but it requires to be followed almost on a tape reading basis to figure out or spot the footprints

Thanks Ally!