CFTC issues warning, Gold & Silver immediately spike
derryb
Posts: 37,116 ✭✭✭✭✭
Nobody would ever close out unlawfully-held shorts after being warned by the CFTC, would they?
This in itself supports the "manipulation" conspiracy theory. It appears all the illegal shorts were dumped upon the warning.
Warning issued at 11:15 a.m.:
Charts say it all
This in itself supports the "manipulation" conspiracy theory. It appears all the illegal shorts were dumped upon the warning.
Warning issued at 11:15 a.m.:
Charts say it all
Repetition of ignorance is ignorance raised to the power two.
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Linky no good
Repetition of ignorance is ignorance raised to the power two.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>If that is all that it spiked then there must not have been a lot of illegal shorts. Real short covering would have caused a much bigger spike IMO. MJ >>
They were just referring to positions held in the middle of the day. For example, where you short 2x the limit within the day, but then buy back the short positions before the market close (so you end at or below the limit).
It is quite interesting that they did this (and that the silver market responded as it did), but it doesn't have to do with the huge short positions that are out there (which almost certainly were NOT closed).