Commercials scrapped for all of 83 longs but managed to cover -1,908 shorts to end the week with 46.86% of all open interest and now stand as a group at -79,540,000 ounces net short, another huge decrease of almost 10,000,000 ounces net short from the previous week. No one seems to comprehend what these criminals are up to in their strategy to get out of net short positions.
Large speculators got suckered out of -757 long contracts and covered a minute 332 shorts for a net long position of 57,370,000 ounces, a decrease in their net long position of almost over 5,000,000 ounces from the prior week. They are playing right into the commercial's hand but no one is willing to see what is happening for what it really is and they are greedy so more power to them as they get killed like lambs to the slaughter.
Small speculators gave up -238 longs and purchased 664 shorts for a net long position of 22,170,000 ounces an sizable decrease of over 5,000,000 ounces net long from the prior week.
The commercials continue to work their way out of their massive short positions they have accumulated, over the years, and those positions are not there for window dressing. It would seem there is no opne left in the game to hold them to account.
For your convenience, if you would like to contact the CFTC and express your views to them, I have provided you their phone numbers and I hope earnestly that you fill up their phone lines: http://www.cftc.gov/Contact/index.htm and email addresses as well:
email@example.com Chairman Gensler
firstname.lastname@example.org Commissioner Chilton
email@example.com Commissioner Sommers
Somalia@cftc.gov Commissioner O'Malia
firstname.lastname@example.org Commissioner Wetjen
email@example.com Director Meister
How long must the there exist no free market for speculators in the COMEX metals? How much ill-gotten gain from speculators, at the hands of these producer/merchants, is enough for these commissioners to act and do their jobs to ensure a free market can counter their massive open interest monopolies?
See you next week!