Could you please expand upon your assertion that large traders don't have to report anymore? I follow the CFTC's COT report and I see no new differences. Please inform me of any new regulatory changes of which I am unaware. Thanks.
I don't use COT report myself - since I prefer to use my model which follows the "Big Money" in the same spirit than COT but more precisely on intraday basis - so I don't know what it used to be before but on this one below there is an explicit "NON REPORTABLE POSITION" (at the moment it's rather small): http://www.bullishreview.com/OPT_LIST.html#DJ
Great since you mentioned Freedom of Speech, CFTC has just been condemned for violating this freedom of speech by Court of Justice. BTW this is one of the testimony of Bullishreview - a service who offers services around the COT report - against the CFTC attitude (with other testimonies of reputable traders like Frank taucher and Robert Miner winners of futures challenges in some past years): http://www.ij.org/cftc/day3.shtml "IJ then put on its final witness for the trial, plaintiff Steve Briese, publisher of Bullish Review. Briese's particular opinions about the commodity futures markets are based on his interpretation of the Commitments of Traders Report, a report issued by the CFTC and available free of charge to anyone on the Internet. Bullish Review, distributed via the Web, e-mail, and in traditional format, offers specific trading recommendations based on Briese's opinions of the effects of changes in who is investing in which commodities and what this means to future prices. His testimony also introduced into evidence his Website, http://www.bullishreview.com, his daily Pit Points publication available via the site, and the Java Charting and Analysis "applet" that web browsers can initialize to chart market movements. Briese demonstrated that users could also juxtapose his trading recommendations right next to the market charts to see whether he has been right or wrong in his analysis. IJ attorney Scott Bullock then directed the witness to testify about the various software products that he offered. Briese testified that although at one time he developed and sold software, he is afraid to market and sell software now. In addition, he testified that he refrained from advertising his products for fear that that with increased awareness of his business and his products, the CFTC would "come down on him" and demand that he register as a CTA, something he emphatically did not want to do."
There are no changes pending. Harry is paranoid and dredging up old articles to try and start something.
Thank you ktm. Correct me if I am wrong but I believe that sinister non-reportable position you are refering to harry is the positions of small traders. Open Interest - Large Traders - Commercials = Small Traders. That is what you are seeing here. Conspiracy solved.