Commodity Futures Trading Commission

Pivotfarm's picture

The Commitment of Traders Report is created by the CFTC – The Commodity Futures Trading Commission and is published weekly every Friday. This body gathers and publishes the open futures positions on all publicly traded US futures contracts as well as the corresponding options. The data consists of 3 main categories.

Pivotfarm's picture

The Commitment of Traders Report is created by the CFTC – The Commodity Futures Trading Commission and is published weekly every Friday. This body gathers and publishes the open futures positions on all publicly traded US futures contracts as well as the corresponding options. The data consists of 3 main categories.

This Has To Be A Joke: SEC About To Blame Entire Flash Crash On Waddell And Reed's E-Mini Trades

Bloomberg has just released something which if true, will wipe out every last ounce of credibility left in the market. As readers will recall, the initial scapegoat that CNBC and everyone else, who has no clue what really happens in the market decided to pin the flash crash on, was small Kansas-based trading firm Waddell & Reed, which traded a few extra contracts of E-Mini futures in the hours preceding the flash crash. Well, ladies and gentlemen, if this advance glance into what the SEC is about to disclose in its flash crash report is indeed valid, then the entire flash crash is about to be blamed on Waddell and Reed once again, with no mention of High Frequency Trading, or any of the other real culprits for the drop which wiped out $1 trillion in market cap, and the furthermore the report will have no policy recommendations. This is so insulting to the general intelligence of the average American investor who has by now seen the destructive influence of HFT in action so many times, that it will wipe out the last remaining shards of credibility left in US stocks. Will Mary Schapiro next blame every single mini flash crash which we have seen on almost daily basis over the past month on Waddell and Reed as well? Or is that reserved for E-Trade retail accounts? We will not pass judgment until we see the final report, but if true, this is immediate grounds for termination of the SEC head, and will require that everyone pull their money from the market asap, as it will definitely confirm that even our regulators have no clue just how broken the market truly is. It will also confirm that every single SEC staffer has been bribed, bought and corrupted beyond repair by the HFT lobby.

SEC Flash Crash Report To Restore Confidence, Cure Herpes, And Bring Back Elvis From The Dead

Well, if there is anything the SEC is actually capable of doing, it is to market its worthless and corrupt old self. According to Reuters "the upcoming flash crash report will show that regulators have a "very deep understanding" of the marketplace, giving the public a measure of confidence, the head of the U.S. Securities and Exchange Commission said on Monday. "It will paint a very clear picture of how the markets operated on that day," SEC Chairman Mary Schapiro said in an interview, adding she expects regulators will issue the report "in the next several days." Well thank fucking god that the regulators will at least have an "understanding" of how $1.5 trillion in market cap was lost in the span of 15 seconds, and was immediately found again, courtesy of the New York Fed, and that we will once and for all know that HFT is nothing but a ravenous cancer deeply embedded in everything market related, that should have been chemo'ed years ago, when that hyperventilating fringe blog started discussing it (luckily, in less than 100 paragraph rambling and somnolent streams of consciousness). But no, the SEC decided to wait until 20 weeks of fund outflows have put a nail in the coffin of investor confidence. And, by the way, the SEC report will do absolutely nothing to change the public's perception of the market, as nothing at all will change. Because if it did, it would cause roughly $50 billion in annual revenue to evaporate, and the market lobby will simply not allow that. On the other hand, hanging HFT out to dry, will confirm that the SEC actually had a very "non-existent" understanding of the marketplace, for allowing HFT encroachment for so long. In retrospect, we take that back. The only thing the SEC can do to begin the act of restoring confidence in the marketplace is for everyone at the world's most worthless organization, from Mary Schapiro to the lowliest analyst, to hand in their resignation effective 2 years ago, when the greatest experiment in market manipulation began in earnest.

Guest Post: From $100 Million To $2.16 Billion In Under Ten Years - Proposing an Overnight Gold Fund

Consider a hedge fund starting in 2001 with $100m, with the strategy of being long gold from the PM to AM fix, and short gold from the AM to PM fix. That hedge fund would be worth $2.16billion today, before any fees and expenses. This should be enough to catch any investor’s attention. Even without shorting gold during the intraday period, limiting exposure to gold to just the overnight period enhances returns enough to justify using this as a basis for a trading strategy.

Econophile's picture

Until I began to examine the Dodd-Frank financial overhaul bill I had no idea that it would so significantly change the direction of the United States. It's scope is so vast and pervasive that it is difficult to grasp its totality. I wrote this article to try to explain this and why I believe it is so important for us to understand it. Because of its complexity it was not possible to do this briefly, so I wrote this major "white paper" and divided it into four parts to make it easier to digest. Please stick with me for the next few days; your eyes will be opened. This is Part 3 of 4.

Econophile's picture

Until I began to examine the Dodd-Frank financial overhaul bill I had no idea that it would so significantly change the direction of the United States. It's scope is so vast and pervasive that it is difficult to grasp its totality. I wrote this article to try to explain this and why I believe it is so important for us to understand it. Because of its complexity it was not possible to do this briefly, so I wrote this major "white paper" and divided it into four parts to make it easier to digest. Please stick with me for the next four days; your eyes will be opened.

Leo Kolivakis's picture

It's silly to compare today's markets to those of the 1930s or even 1990s. Erratic moves have become the norm, not the exception. What's driving these moves and what is the paradox which threatens the integrity of capital markets and might ultimately threaten the global economy?

Senators Kaufman And Warner Demand SEC/CFTC Investigation Into Causes Of May 6 Market Crash

Computerized trading platforms and various algos are entering the biggest frenzy over assorted technological gimmicks since the October 1987 crash. And the public demands their blood. Or as the case may be, Lithium Hydride. Alas, the agency that is supposed to protect investors from abuses of HFT and various other newfangled technologies is woefully stupid to be able to deal with this great issue. Nonetheless, Senators Ted Kaufman (D-DE) and Mark Warner (D-VA) on Friday proposed an addition to the Senate’s Wall Street reform bill that would direct the Securities and Exchange Commission and the Commodity Futures Trading Commission to report to Congress on several key issues surrounding the May 6, 2010 market meltdown, which sent the Dow Jones Industrial Average tumbling dramatically in minutes. High-frequency-trading algorithms have been the initial focus of questions concerning the collapse. We hope Kaufman is successful. On the other hand, the most likely product of the SEC's work product will be a 1 million page printout of all the jpegs in www.underagetransvestitesforregulators.com, better known in SEC circles as due diligence output. As usual, we hope we are wrong. As usual, we suspect we aren't.

Guest Post: GLD And SLV: Disclosure In The Precious Metals Puzzle Palace

This article was inspired by a conversation in January 2010 with fellow directors of the Gold Anti-Trust Action Committee: Chairman Bill Murphy, Secretary/Treasurer Chris Powell, and Directors Adrian Douglas and Ed Steer. In speaking about the growing role of the exchange traded funds in the precious metals market, it was clear that the disclosure that the precious metals ETFs described below were providing to investors was inadequate. However, was there a material omission under securities law? I found the issues complex. Understanding the commodities markets can seem daunting to someone like myself with a securities background. Meanwhile, the securities markets and related legal and regulatory issues can be unfamiliar to those with a background in commodities. I decided to ask my attorney to help me gather the relevant information into one document to make it easier for GATA supporters and other interested parties—whether from the commodities or securities markets—to examine these issues and to better understand and price these securities. - Catherine Austin Fitts, Solari Report

OilPrice.com Weekly Oil Market Update: 03/22/2010 - 03/26/2010

Crude oil prices still found stubborn resistance above the $80-a-barrel level amid concerns about demand while natural gas continued its decline, to below $4 per million British thermal units, as burgeoning supply from unconventional sources depressed prices. The natural gas Henry Hub benchmark futures settled Friday at a nearly six-month low of $3.87, down 31% so far this year from above $6 in January. Natural gas demand experiences a lull at this time of the year as warmer weather reduces heating use but the need for more electricity from gas-fired plants to power air conditioners is still weeks away.