They (commercials) have been meeting these guys (futures buyers) head on, one for one, short for long, for the last couple of weeks. We’ve been seeing it build up and all they (commercials) have done is cash it in....
We were seeing massive order flows. We were seeing every single bid being hit. The offers were just massive. I mean we were seeing 10’s and 20 thousand contracts at a time being unloaded by single individuals.
This would be the agents that control the markets. I don’t believe for a minute it was genuine selling. This was 100% paper orchestrated selling and it had nothing to do with the physical market whatsoever. They came in with massive sell orders, creating absolute panic in the marketplace.”
- Andrew Maguire via a recent King World News interview: