CFTC To Vote On 10% Position Limit Proposal Next Week

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Thu, 01/06/2011 - 16:53 | 853815 Cdad
Cdad's picture

Selling JP Morgan into it....

Thu, 01/06/2011 - 16:58 | 853834 NoLongerABagHolder
NoLongerABagHolder's picture

Selling? Why would you do that? Buy the f-in dip.

Thu, 01/06/2011 - 17:02 | 853858 Cdad
Cdad's picture

Because I'm an f'n rebel.  I'll leave the dips for you, buddy.

It took a lot of volume in that last hour just to hold it together.  Euro rolls over tomorrow and blows dip buyers' minds...

Thu, 01/06/2011 - 20:11 | 854461 Turd Ferguson
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I just don't see how this is PM positive in the short term. The market is telling you otherwise.

Thu, 01/06/2011 - 23:19 | 854958 Cdad
Cdad's picture

I is not positive for PMs in the short term.  This story is not positive anything [if your measurement is price appreciation]. 

It is positive in terms of regaining some measure of control over criminal syndicate Wall Street bankers that are currently running amok destroying almost everything in sight as they try to figure out the perfect algorithm for arbitraging everything on the surface of the mere minutes.

I guess that is why I chose to respond to the story by selling JP Morgan.

I'm confused by your post, Turd.



Thu, 01/06/2011 - 16:58 | 853837 Dr. Richard Head
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Buying silver now.  Not that it could possibly pass, but still a good silver buy opportunity yes?


Thu, 01/06/2011 - 17:08 | 853878 terryg999
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I think so too.  Monday might be better, but what is .35 - .50 over the next 2-3 years?

Thu, 01/06/2011 - 17:11 | 853883 Dr. Richard Head
Dr. Richard Head's picture

What is it?  Nothing more than a difference between the amount of toilet paper required for ass wiping.


Hi-yo Silver away!!!!! - The Lone Ranger

Thu, 01/06/2011 - 17:23 | 853949 Oracle of Kypseli
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There is no movement on gold or silver spot after the news.

Is that baked in?

Thu, 01/06/2011 - 17:28 | 853958 goldmiddelfinger
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It's baked in like constipation. It's sooo hard to shyt bullion

Thu, 01/06/2011 - 17:35 | 853975 Dr. Richard Head
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I don't know who junked you because that was pee in your pants funny.

Turbo Timmy suggests you try some fiber (aka Fed Notes) for your condition. 

Thu, 01/06/2011 - 17:50 | 854017 goldmiddelfinger
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She totally set up the rim shot

Thu, 01/06/2011 - 17:55 | 854031 Dr. Richard Head
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I think these charts really show a bitmore about what is happening in the metals market, at least from gubermint numbers -

Thu, 01/06/2011 - 18:06 | 854058 goldmiddelfinger
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Eagles/bullion purchases represent only the un-levered buyer using a musket and not any true seller opinion. The two sided futures spec is the guy with enriched plutonium and a delivery system. (AKA The Bunkie Hunt/Bache method)

Thu, 01/06/2011 - 17:30 | 853965 NumberNone
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ZH tends to gets news out before the world even has a chance to notice it much less read and digest it.  If it is going to move markets it will be tomorrow or maybe even next week. 

Thu, 01/06/2011 - 18:04 | 854055 Dr. Richard Head
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Which is exactly why I am OCD on this site.  In fact, my family is about to stage an intervention. You would think at 32 I would have the right to get informed as I wanted, but they say it is excessive. 

Hi, my name is Dr. Richard Head, and I a Zerohedge-a-holic.  One year and three weeks ago I encountered this site which spoke the truth about matters and actually substantiated their news with facts and charts.  They cut through the bullshit of the boobtube and ever since then I haven't been able to function as the rest. 

Thu, 01/06/2011 - 18:21 | 854103 breezer1
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hello, my name is breezer1 and i am a zerohedgeolic. i also am addicted to bill banzai7 media. where's the next meeting?

Thu, 01/06/2011 - 19:06 | 854225 MachoMan
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Bob.  Bob had bitch tits.

we're still men

yes, we're men

men is what we are

Thu, 01/06/2011 - 19:10 | 854240 Max Hunter
Max Hunter's picture

Hi Dr. Head

Hi. Mr. Breezer

Thanks for attending.. Coffee is in the back and 7 min cigarette breaks are scheduled for every 15 minutes. We hope the 8 minutes between cigarettes provide you with helpful reflection.  

Fri, 01/07/2011 - 01:47 | 855185 strannick
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Me too, but Im not taking any 12 step program, though I would buy that "Im ..... and Im a ZH-a-holic' T-shirt.

Thu, 01/06/2011 - 19:51 | 854378 Chappaquiddick
Fri, 01/07/2011 - 02:33 | 855252 Red Neck Repugnicant
Red Neck Repugnicant's picture

This news has been obvious for 7 months.  It was part of the Dodd-Frank Bill from last July.

You can be rest assured that the vampires at GSCI will still win.  While the proposal sets position limits on investment banks' proprietary accounts, it will allow them to hold positions on behalf of end-users like ADM, Kraft et al.  

Why doesn't ADM just hold these positions themselves?  It's just another regulatory reform shell game that still enables the vampires access to your blood. 

Fucking bullshit, as always.


Fri, 01/07/2011 - 09:58 | 855734 tamboo
Thu, 01/06/2011 - 19:34 | 854321 El Hosel
El Hosel's picture

    Better watch this all play out, key reversals in currencies and market are overdue. Silver is good, cheaper silver is better.

Thu, 01/06/2011 - 19:36 | 854326 El Hosel
El Hosel's picture


Thu, 01/06/2011 - 20:03 | 854422 blindman
blindman's picture


Thu, 01/06/2011 - 20:18 | 854479 brushfire
brushfire's picture

good luck bro. i dont know what position limits will mean for the price of any commodity, but i am SURE the position limit rule (if enacted) will have absolutely NO impact on JPM or its share price. however, i disagree with roboretard and others who think the banks are invincible on this issue. you cant defy the laws of supply/demand forever - look at the morgtage market. eventually supply/demand will dictate the price of gold and silver. when that occurs is anyone's guess. trading on CFTC "rule changes" is a suckers bet.

Thu, 01/06/2011 - 16:55 | 853823 Cleanclog
Cleanclog's picture

OT but who got the jobs # leak for tomorrow.  Close a quick buy, some PDs know something.

Thu, 01/06/2011 - 16:58 | 853841 EscapeKey
EscapeKey's picture

Huh? All I see is the usual PPT ramp job before close, to make sure we don't drop more than the allowed 0.2% in a day.

On basis of Macy and Target BEATING expectations (*), why wouldn't the market be up?


(*) Q1 '95 expectations.

Thu, 01/06/2011 - 17:02 | 853857 Cleanclog
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Good enuf.  A little fade at end, so not the last 10" rocket it first seemed.  A non event waiting for tomorrow.  More than our unemp #, the bigger news will be out of Europe and more shenanigans, not that US Centric markets will care.

Thu, 01/06/2011 - 17:20 | 853926 ZeroPower
ZeroPower's picture

Lots of ppl suggesting a nice healthy number. BarCap suggested something like 400K, way above consensus, other banks ive heard say they expect in the 200k range. Also, perhaps more importantly, ben shalom is speaking an hour after the # comes out, hes expected to reaffirm the need to finish QE2 and potentially discuss what lies on the path ahead.

After not being in the market all of last yr, i BTFD yesterday and will probably hold for a little while as, despite joking bout BTFD, i thought, why the hell not.


Thu, 01/06/2011 - 19:48 | 854364 Abiggs
Abiggs's picture

Pos limits in energy have hit quite a few gas & power shops. Hard to make money when you're capped at 7k contracts across all months and basis trades around $4 bucks. Metals traders will soon feel it too...

Yet the trillions floating around in credit derivatives are A OK...

Fri, 01/07/2011 - 09:58 | 855740 ZeroPower
ZeroPower's picture

Yes, limits are a bitch but you deal with them. Also doesn't hurt the massive gains comm. shops made the past few months, some traders prob got a bit more leeway from bosses lol.

Cred der's...yes, well, if theres no bid for your particular HY POS, then its not 'really' worth 0, just N/A ;)

Fri, 01/07/2011 - 12:11 | 856308 Abiggs
Abiggs's picture

Not much leeway around here - no desk head wants a pending CFTC investigation on their hands. Our "hedging" business, which has normally been the cash cow, had the worst year on record...

Crude traders made some coin this year but the same can't be said about gas. Pure gas shops had a tough year...

Thu, 01/06/2011 - 16:56 | 853831 EscapeKey
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How many CFTC commissioners would you have to pay off to.. ehm... influence the verdict?

Thu, 01/06/2011 - 17:38 | 853984 fockewulf190
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The Bears said in part II that JPM has two on the payroll.

Thu, 01/06/2011 - 19:15 | 854269 Max Hunter
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Are you talking about the ones not already on the payroll?

Fri, 01/07/2011 - 02:26 | 855243 Lord Koos
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I'm not sure that "news" gotten from animated bears is always the thing to follow.

Thu, 01/06/2011 - 16:58 | 853838 dan10400
dan10400's picture

If something like this would pass and JPM would be toast, isn't it all the more reason to expect that it will not pass?   I mean, what is the track record on this type of bet?

Thu, 01/06/2011 - 17:25 | 853952 buzzsaw99
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Thu, 01/06/2011 - 17:42 | 853997 tmosley
tmosley's picture

No reason to think they would actually be toast.  Their short position might blow up, but any losses will just be papered over.  

All it means is PM prices will rise.  TBTF won't be hurt by this any more than they were hurt by their bad mortgage bets.

Thu, 01/06/2011 - 18:13 | 854091 bugfixx
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Any losses will be eaten by the American taxpayer. The banksters don't do losses.

Fri, 01/07/2011 - 02:28 | 855248 Lord Koos
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If JPM has outsourced their short positions and their manipulations then nothing will change in the near term.

Thu, 01/06/2011 - 16:59 | 853844 firstdivision
firstdivision's picture

We all know if it is to be "voted" upon that it will ultimately fail.  Same old dog and pony show.

Thu, 01/06/2011 - 19:49 | 854377 Abiggs
Abiggs's picture

First, it has been a while for me - I recently came across one of your comments from this summer and couldn't help but put it up...

by firstdivision
on Tue, 07/06/2010 - 23:36

What you are implying is that technicalities are the end all be all.  Did you stop and think for a second why desks have been unwinding a lot of risk lately?  Maybe the technicals are not correct on their calculus.  It is too hard even with Mandelbrot's model to emulate randomness (which I hope you do not subscribe to the EMH as your professors like to tout).   You can go long on your technicals for the short-term and I will sit short for the long term.

No hard feelings buddy :)

Thu, 01/06/2011 - 17:00 | 853845 topcallingtroll
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The silver top is in! Dont forget you heard it from the troll first.

Thu, 01/06/2011 - 18:51 | 854191 oddjob
oddjob's picture

If the top has been put in you are roughly 31 years late on that call.

Thu, 01/06/2011 - 16:59 | 853846 apberusdisvet
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Tyler: will these hearings be public and if so, please provide a link so that we can watch them

Thu, 01/06/2011 - 17:01 | 853847 SDRII
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"IF" it passes it will be phased in over 20 years bit like basel. JPM = Sempra = Singapore Gold vault

Thu, 01/06/2011 - 17:01 | 853850 NOTW777
NOTW777's picture

they gave JP time for mitigation measures

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