Comment Text:
10-005
COMMENT
CL-00325
From:
Sent:
To:
Subject:
[email protected]
Saturday, April 24, 2010 7:50 AM
Metals Hearing
position limits on silver
Dear Sir,
I am very concerned about potential abuses taking place in the silver futures
market. Many times over the years I have seen the silver market fall precipitously
for two or three days taking money from the small guys. I have heard many
investors state that they will not invest in the silver market due to these extreme
sell offs. If this is caused by a few large traders for there benefit then I would hope
that you could change the system to make it fairer and attractive to more
investors. If it is true that a few large traders have the power to manipulate the
price of silver then the CFTC should make new regulatory rules to create a system
that if fair to all.
Please establish a speculative position limit in the COMEX silver market of no
more than 1500 contracts. Please restrict any hedging exemptions from those
limits to legitimate hedgers. Please stop the levels of concentration in the COMEX
silver futures that have been experienced over the past few years on the short
side of the market.
Thank you for all that you do and for taking on such an important obligation to
the general public.
Thomas Harter D.M.D.
