The Commitment of Traders Report (COT) is a very important tool for futures traders who are interested in spotting the big moves before they happen. This lesson examines the COT, its meaning, and recommended applications. It should be noted that the COT report is not applicable to stock trading. This lesson teaches you my method for spotting large bull markets by understanding the meaning of the COT report. The best way to understand the COT report is by studying the position breakdown in three categories of traders: commercials, large speculators, and small speculators. The true value of report cannot be ascertained unless one knows what to look for. To fully understand the COT, A trader must understand the role and the goal of each group.