THE CONSENSUS® REPORT OF THE COMMITMENTS OF TRADERS MARKET COMPOSITION

Derived from the Bi-Weekly Report Published by the Commodity Futures Trading Commission*
*Reporting positions as of September 9, 1997.
*Released from Commodity Futures Trading Commission on September 12, 1997.

Showing Percentage Each Group Comprises of Each Market and Percentage of Each Group in Long Positions

		Reportable Positions
Exchange & Commodity		Non Comm. Long or Short Only		Non Comm. Long or Short (Spreading)		Comm.** Long or Short Only		Total Reportable Positions		Non Reportable Positions***
	Reporting Level	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long
T-Bonds (CBOT)	500 contracts	9.66	45.2	4.83	50	67.4	50.9	81.8	50.2	18.2	49.3
Last Reporting Period		9.42	60.7	8.29	50	62.1	48.1	79.8	49.8	20.2	50.8
T-Bonds (MACE)	500 contracts	29.2	54.6	0	50	0	––	29.2	54.6	70.8	48.1
Last Reporting Period		30.5	75.4	0	50	0	––	30.5	75.4	69.5	38.9
90-Day T-Bills (IMM)	150 contracts	13.1	28.8	5.38	50	49.3	41	67.8	39.3	32.2	72.5
Last Reporting Period		7.5	39.2	5.11	50	59	39.4	71.6	40.2	28.4	74.8
6.5-10Yr. T-Notes (CBOT)	500 contracts	9.81	41.6	0.76	50	72.3	53	82.9	51.6	17.1	42.3
Last Reporting Period		6.44	49.5	8.19	50	67.4	51.7	82	51.3	18	43.8
5-Yr. T-Notes (CBOT)	300 contracts	15.2	36.9	1.35	50	71.1	55.1	87.7	51.9	12.3	36.6
Last Reporting Period		9.63	38	2.64	50	74.6	54	86.8	52.1	13.2	35.9
2-Yr. T-Notes (CBOT)	200 contracts	10.9	18	2.43	50	73.7	57.3	87	52.2	13	35.3
Last Reporting Period		8.66	36.7	2.82	50	69.8	54.3	81.3	52.3	18.7	40
Eurodollars (IMM)	850 contracts	4.9	52.7	4.9	50	64.5	53.3	74.3	53.1	25.7	41.2
Last Reporting Period		4.85	55.1	5.2	50	64.4	52.9	74.5	52.8	25.5	41.7
1-Mo.LiborRate(IMM)	100 contracts	3.34	32.3	2.35	50	86.8	50.4	92.5	49.7	7.49	53.1
Last Reporting Period		3.33	62.2	1.6	50	86.1	48.9	91	49.4	9	55.8
Municipal Bonds (CBOT)	25 contracts	2.23	89.7	0.23	50	90.4	48.8	92.8	49.8	7.16	52.6
Last Reporting Period		3.87	93.4	0	50	86.7	48.6	90.6	50.6	9.38	44.6
30-Day Fed Funds (CBOT)	100 contracts	11.6	9.9	5.05	50	71.1	58.4	87.7	51.5	12.3	39.2
Last Reporting Period		6.64	19	2.63	50	77.6	55	86.9	52.1	13.1	36
Canadian Dollar (IMM)	200 contracts	12.6	40.7	0.71	50	54.1	40.3	67.4	40.5	32.6	69.7
Last Reporting Period		18.1	20.1	1.68	50	49.8	51.3	69.6	43.2	30.4	65.6
Swiss Franc (IMM)	200 contracts	17.1	28.5	1.79	50	51.6	61.4	70.5	53.1	29.5	42.5
Last Reporting Period		17.9	23.6	2.3	50	48	68.3	68.1	55.9	31.9	37.3
Deutschemark (IMM)	200 contracts	13	44.5	0.85	50	55.8	53.6	69.7	51.8	30.3	45.8
Last Reporting Period		14.1	41.5	0.85	50	58.6	54.2	73.6	51.7	26.4	45.2
Pound Sterling (IMM)	200 contracts	10.4	10.1	0	50	58.2	61.8	68.6	53.9	31.4	41.4
Last Reporting Period		13.4	4.3	0	50	64.1	64.9	77.5	54.5	22.5	34.5
Japanese Yen (IMM)	200 contracts	12.4	17.4	0.94	50	64.6	60	78	53.1	22	39.1
Last Reporting Period		18.2	12.4	2.57	50	61.1	64.3	81.9	52.3	18.1	39.7
Australian Dollar (IMM)	200 contracts	15.1	8.09	0	50	58.1	66.8	73.1	54.7	26.9	37.2
Last Reporting Period		14.1	10.2	1.22	50	58.4	61.7	73.7	51.7	26.3	45.3
Mexican Peso (IMM)	200 contracts	7	96.2	0	50	63.9	43.7	70.9	48.9	29.1	52.8
Last Reporting Period		10.3	78.1	0.94	50	65.9	43.9	77.2	48.5	22.8	54.9
30-Day Fed Funds (IMM)	100 contracts	6.76	0	0	50	87.3	55.1	94.1	51.2	5.91	31.4
Last Reporting Period		6.76	0	0	50	87.3	55.1	94.1	51.2	5.91	31.4
S&P 400 (IMM)	25 contracts	4.89	42.3	0	50	87	49.4	91.9	49	8.08	61.5
Last Reporting Period		4.54	37.9	0	50	91.1	50.3	95.6	49.7	4.41	56.1
S&P 500 (IMM)	300 contracts	5.66	31.7	0.42	50	67.9	49.2	74	47.9	26	56
Last Reporting Period		6.55	29.5	0.48	50	69.2	50.3	76.2	48.5	23.8	54.7
Value Line Avg. (KCBT)	50 contracts	––	––	––	50	––	––	––	––	––	––
Last Reporting Period		––	––	––	50	––	––	––	––	––	––
Mini Value Line Avg. (KCBT)	50 contracts	9.27	84.8	1.1	50	56	47.6	66.4	52.9	33.6	44.3
Last Reporting Period		7.23	72.6	2.76	50	56.9	49.4	66.8	51.9	33.2	46.2
GSCI (IMM)	25 contracts	5.41	60.5	0.55	50	91.7	48.4	97.7	49.1	2.34	88.3
Last Reporting Period		4.16	38.8	0	50	94.6	50	98.8	49.5	1.23	90
Nikkei Stock Avg. (IMM)	50 contracts	17.9	51.7	0	50	61.2	45.7	79.1	47	20.9	61.2
Last Reporting Period		19.1	54	0	50	60	44.7	79.1	46.9	20.9	61.7
Russel 2000 Index (CME)	25 contracts	8.97	56.6	0	50	77.2	42.6	86.2	44.1	13.8	87.1
Last Reporting Period		3.67	17.9	0	50	84.7	46	88.4	44.9	11.6	88.9
Yen/DM XRate (NYCE)	25 contracts	25.6	49.3	1.13	50	62.8	48.6	89.6	48.9	10.4	59.9
Last Reporting Period		29.6	23.3	0	50	61.4	64.6	91	51.2	9.02	38.2
French Franc/DM XRate (NYCE)	25 contracts	47	10.1	0	50	47.6	90.8	94.6	50.7	5.37	37.8
Last Reporting Period		32.4	20.5	0	50	63.4	67	95.7	51.3	4.25	21.5
Lira/DM XRate (NYCE)	25 contracts	50.2	27.5	18.4	50	28	92.6	96.6	50.7	3.41	31.1
Last Reporting Period		53.2	17.3	0	50	43.1	91.8	96.4	50.6	3.62	32.8
DM/B Pound XRate (NYCE)	25 contracts	35.8	42.9	0	50	42.1	56.3	77.9	50.2	22.1	49.5
Last Reporting Period		28.5	0	0	50	58.6	78.5	87.1	52.8	12.9	31
Eurotop 100 (CMX)	25 contracts	7.5	100	0	50	79	39.9	86.5	45.2	13.5	81
Last Reporting Period		10.9	100	0	50	72.8	35.6	83.8	44	16.2	80.8
US$ Index (New) (NYCE)	50 contracts	57.9	51.2	16.2	50	6.93	0	81	46.6	19	64.7
Last Reporting Period		51.1	49.8	11.5	50	11.6	7.78	74.2	43.3	25.8	69.3
NYSE Compos. (NYFE)	50 contracts	20.9	94.1	3.17	50	14.2	0	38.3	55.5	61.7	46.6
Last Reporting Period		22	77.1	0	50	10.4	12	32.4	56.2	67.6	47
CRB Futures Index (NYFE)	25 contracts	11.3	45.7	67.5	50	0	––	78.7	49.4	21.3	52.3
Last Reporting Period		13.5	33.9	67.8	50	0	––	81.3	47.3	18.7	61.6

Consensus National Futures and Financial On Line Index
Food & Fiber Index

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