Added to Update - The broker said, mistake orders are put in everyday, but they are not publicized, so he feels this is suspicious and thinks they released it, to possibly fall back on it - for adjustment of prices later this week, if need be.
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We have a day where both Gold and Silver are rising fast! What a Great Day! NOW - CFTC has just come out saying "Phantom Orders" have been placed in the Energy sector!
They are saying due to Rule 587 they can void all orders!
CME detects such trades its powers allow “including without limitation, closing the market, deleting bids and offers, and/or suspending new bids and offers,” according to Rule 587.
Are they having this problem because they have not been able to contain the longs and orders on Gold and Silver, thus they can make ALL orders void and null? They know the shorts can not cover the longs asking for delivery? They were not able to control the price action today, so they are going to make all the price action become null and void?
I want to know what they really mean in this article, as they imply quite a bit in it.
Also, oil has gone down .80 today - the ONLY thing that has risen high are metals. They sure didn't do this when Oil was going sky high to $140 a barrel 2 years ago. OH, but that was okay - all on false future orders, as it made the big corporations Huge Money! Yet, they can't let metals go up, because that shows confidence in Fiat money is not there!
SO, the Big question is: Will they Wipe out today's Gains in the Metals? Lets watch and see what the outcome of this article is and what the full meaning of why they released this article in the first place.
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