After reading Steve's book—or even his Subscribers Guide—anyone can tell when large commercial hedgers are bullish or bearish. This is the conventional analysis. And it might be enough of an edge to make you profitable, because these market insiders catch market extremes about two-thirds of the time. Steve's subscribers, of course, demand more. And he delivers, or he would not have readers who have subscribed for 20 years! They expect to be advised when commercials are likely to be wrong. Some of the biggest and fastest moves are tipped off by commercials being wrong. This is where Steve's analysis may make a big difference in your trading results. Let me give you an example.

In the Fall of 1998, Steve invited futures traders to a series of seminars in six cities across the United States. He called this the Turning Point Tour and hundreds of traders heard him predict a:
“major bottom in the oil complex due in December 1998 to be followed by a generational-type bull market.”

It may be difficult now to understand how incredulous this forecast sounded in 1998, when oil prices had fallen 74% over the previous eight years to nearly $10 per barrel, and in the process brought gloom and doom to the oil industry. Prices bottomed exactly as Steve predicted, on Dec. 11, 1998.

But very soon after the apparent bottom, heating oil moved to a new price low. This was followed by a minor rally into March 1999. At this point, large oil companies (commercial hedgers) started selling. Many analysts assumed this was a bearish sign. They were wrong, of course, but Steve got it right:
“We have posted minor CoT sell signals across the complex in this issue. This reflects normal Commercial selling into the rally. As you know, we generally respect these signals in a bear market. If these signals do not trigger a resumption in the bear trend, we will have our first confirmation of a major trend change. A failure swing bottom has been confirmed by consecutive higher closes in Unleaded. We believe the picture for the entire complex is turning quite bullish and that long-term traders should be approaching these markets from the long side. Based on the patterns to-date, we can anticipate that any additional price weakness threatening market lows will be met by overwhelming Commercial buying interest.”
--March 15, 1999 Bullish Review.

A single crude oil contract gained $23,000 over the next year alone.