Intraday commentary about that very clumsy Dr. Evil style hit on the open of the gold market here.
Speaking of the CFTC, it appears that those fine fellows have finally done something about the obvious and blatant manipulation that all too often plagues the futures markets in commodities.
That's right, the CFTC is joining a defense motion to dimiss the $30 million fine levied against the Amaranth trader who was caught manipulating the natural gas market. Why?
Because the CFTC and the defense contend that the Federal Energy Regulatory Commission should not be investigating market manipulation in futures, because not doing anything about it is within the jurisidction of the CFTC.
Hey, nobody can touch our crooks but us, and we're too busy and understaffed to do it. Now that's industry friendly! ...