Comment Text:
10-005
COMMENT
CL-00506
From:
Sent:
To:
Subject:
Doug Dillon
Saturday, April 17, 2010 3:00 PM
Metals Hearing
Precious Metals Concentration And Manipulation
Dear Sir;
I took a day off work from my engineering day-job to attend your recent metals hearing.
What I heard was as follows:
(a) Clear evidence of overly concentrated postions - from the CFTC's own staff.
(b) Clear evidence of manipulative trading - from Mark Epstein.
Its clear to me that the CFTC should fulfill its charter and come up with a mechanism to prevent both (a)
and (b).
I urge the CFTC to be concerned about doing its job and to not be concerned about the potential for
trading to move overseas. If the USA has genuine free, fair markets there will be adequate trading in
those markets.
I recommend the establishment of a speculative postion limit on COMEX silver of around 1500
contracts with hedging exemptions restricted to legitimate hedges. The result must be the end of the
concentration in short COMEX silver futures positions that have been in place for several years whether
that concentration is the result of so-called legitimate hedges or not.
Sincerely,
Douglas M Dillon, Private Futures Trader.
1 Bell Bluff Court
Gaithersburg, MD. 20879
240-383-6846
