Comment Text:
10-005
COMMENT
CL-00133
From:
Sent:
To:
Subject:
Mark Crowley
Sunday, April 25, 2010 1:05 PM
Metals Hearing
Speculative Position Limits in Silver
Dear Sir or Madam:
I urge you to adopt speculative position limits in COMEX silver of no more
than 1500 contracts. This is to stop the excessive levels of short sales in
the silver market.
Short sales have become so concentrated, so orchestrated and so distorting
to the silver market that the price of silver has become increasingly
unrelated to both supplies and usage of physical silver. This distortion
sets the stage for a sudden, major, harmful disruption in silver
availability for industrial purposes that could well affect the industrial
security of our nation.
Thank you for taking my comments and, other than legitimate non-speculative
hedging, please seriously consider limiting silver positions to 1500
contracts.
Sincerely yours,
Mark D. Crowley
3316 Cassius St. Apt. A
Pittsburgh, PA 15235
