Larry,
I was going over the monthly figures in last weeks SMR and it shows the COT up about 8.8% for the year. But when I calculate each trade that has closed I only come up with about 4-5%. I regulated the first part of Jan. to the loss of the last half of 03. Since the current trade hasn't closed I didn't figure that into the equation. At the present level this trade would subtract another 1.8%. Am I doing something wrong or are you calculating from the last day of the month even if the trade hasn't closed?
I'm just taking the month by month results whether the trade was closed out or not. The original reason for calculating monthly results was to compare it to the way hedge fund results are recorded.