Posted by Karl Denninger
WASHINGTON (Dow Jones)–The U.S. Commodity Futures Trading Commission issued a warning to the market on Friday to remind participants that speculative trading limits apply throughout the trading day as well as at the end of trading.
Timestamp, 11:15 Central time
Now let’s look at two charts.
You don’t think that GOLD was being speculatively shorted beyond intraday position limits, do you? That oval, by the way, is right when the announcement was made.
Or shall we look at SILVER?
Naw, there’s no evidence that “someone” (or a few someones) were breaking the law here, is there?
Nobody would ever close out unlawfully-held shorts after being warned by the CFTC, would they?