CFTC CHIEF GENSLER PREPS EVERYONE FOR THE BIG SHOWDOWN NEXT TUESDAY...

"Though clearinghouses will decide much of the timing, it is likely that they will not file submissions until later this fall or in the winter. If, therefore, clearinghouses were to file submissions towards the end of this year, a clearing mandate may take effect towards the beginning of the 2nd quarter of next year. Under recently proposed rules on implementation phasing, market participants would have an additional three, six or nine months to come into compliance with the clearing mandate, depending on the swap's counterparties."

How I interpret this is that nothing is really going to happen for another 6 - 9 months!. Just seems a lot of talk and not much actual action, plus they still have lots of loopholes and exclusions to be exploited.

But I will be keeping my finger on the buy button if the price crashes next week :-)
 
If we get market collapse and PM take down or some kind of disaster happen before next Tuesday which result in the meeting being canceled or postpone, I won't be too surprised!
 
The word on the street is that everyone I'm in contact with is expecting Blythe to make one last assault - possibly just to make a point - and to reduce shorts as far as possible before the 18th, but we've yet to see it. I hope (if they do go) that it's more a whimper than bang.

VRS ;)x
 
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