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Lol...now you got me worried....hold on...what was that. lol

Here is a letter to the cftc from Shirley with some odd stats, i think someone quantified this trading and said it would happen one in 15 million..

Dear Sirs, Madams,

This is a follow-up to the letter I sent you last Friday, May 20th. I have subsequently compiled data for all of 2010 regarding the highly suspicious Comex gold trading. In particular, I have focused this time on the London AM and PM fixes. As you probably know the AM fix occurs at 10:30 AM London time, prior to Comex trading. The PM fix occurs at 3:00 PM London time, putting it squarely in the middle of Comex trading hours. Many gold watchers have for years noticed peculiar Comex selloffs into the London close, along with sudden weakness after the London market closes. To see the intensity of Comex selling statistically is rather stunning. Keep in mind this data occurred during a year when gold rose 26.7% y/y. As you will see gold prices rose almost entirely outside of Comex trading hours. The Comex "price discovery" was, and continues to be a one-way street lower. I reiterate that the short seller(s) in suspect are certainly well-funded, HFT savvy, and without care for true price discovery.

Total trading days 254

Trading days PM fix over 2% higher than AM fix ZERO

Trading days PM fix over 1% higher than AM fix 2

Trading days PM fix either lower, or no higher than $5 211 (83.1%)

It should be obvious to anybody with a trained eye for sleuthing that something is badly wrong here. I find it incredible that for all of 2010 only TWO out of 254 trading days resulted in a PM fix higher than 1%. There was an 83% chance of either a lower close, or very minimal gain. This is totally consistent with the trading patterns for the first 5 months of 2011. Since the beginning of 2010 gold has rallied 41.5% without a SINGLE PM fix above +2%, and only 7 above 1%. There is an obvious seller who wants ALL Comex trading days capped at 1%. This is illogical from a trading perspective, and defies all fundamentals, technicals, and news-driven events. I can't imagine a more obvious example of tape painting, and am again requesting you investigate Comex gold trading manipulation in addition to the silver investigation. I realize your tools for identifying manipulation are undoubtedly sophisticated, so you should have no problem modeling the odds of this happening in a free trading environment. It must be so many standard deviations off norm that you will give up counting zeros on the end. The advent of HFT systems has only accelerated the trend of manipulative trading by gold short sellers. Until the CFTC or anybody else decides to crack down I am confident this tape painting will not only continue, but worsen.

Any CFTC ruling (and crackdown) on concentrated short silver manipulation will likely put a chill into the gold manipulators as well. That doesn't mean however, that gold manipulators should be exonerated. The quickest, and only way to restore faith in the U.S. financial markets is to finally prove to investors that manipulators, including short sellers, will be held accountable. That, for many years now, has been nothing more than wishful thinking.
Sincerely,
James C. McShirley

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