Comment Text:
10-005
COMMENT
CL-00170
From:
Sent:
To:
Subject:
Jim Long
Saturday, April 24, 2010 10:36 PM
Metals Hearing
Position Limits in Precious Metals
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. I feel that action is
needed by the CFTC governing efforts to bully the market in a way that is detrimental to the overall trading
participants. To free the market and allow transparency of actions:
1. Please establish a speculative position limit in COMEX silver of no more than 1500 contracts.
2. Please restrict any hedging exemptions from those limits to legitimate hedgers.
3. Please stop the levels of concentration in COMEX silver futures that have been experienced over the past few
years on the short side of the market.
Additional concerns include:
1. I feel CFTC actions are needed in other commodity markets to prevent a divorce between the cash and futures
resulting in highly depressed cash markets.
2. There should be less restrictive rules for delivery settlement of agriculture commodities.
Sincerely,
Jim Long
Hilliard Farms
3078 St Rt 123E
Clinton KY 42031
Phone: 270-653-5761
