CFTC Warns, GLD/SLV Spike... Hmm

[bobbyw24]

Hmmmm....

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.

http://static.seekingalpha.com/uploads/2010/5/7/saupload_gld_spec.png

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?

http://static.seekingalpha.com/uploads/2010/5/7/saupload_slv_spec.png

Naw, there's no evidence that "someone" (or a few someones) was breaking the law here, is there?

Nobody would ever close out unlawfully-held shorts after being warned by the CFTC, would they?

http://seekingalpha.com/article/203773-cftc-warns-gld-slv-spike-hmm

[DFF]

Dunno, but due to issues in Europe, plus the mega-disaster in the Gulf, I added to my GLD position on Friday.

[fatjohn]

Dunno, but due to issues in Europe, plus the mega-disaster in the Gulf, I added to my GLD position on Friday.

Tss this disaster in gulf stuff is getting old. look at wiki's list of largest oil spills...
http://en.wikipedia.org/wiki/List_of_oil_spills
Right now it's number 35 soon to be top 30. The greatest one in the gulf was 6 to 7 times as big as the spill now. And the one in the persian gulf was almost three times the size of that. I do not remember TEOTWAWKI happening back then.

If you put them chronologically you will also notice a trend... namely in the seventies it was approx 2 mil tonnes, eighties approx 1 mil and 90's 2 mil+. For comparison the sum of the larges spills last decade was like under 250,000 tonnes.

So the claims that it will contaminate the worlds oceans are laughable.