Comment Text:
10-005
COMMENT
CL-00551
From:
Sent:
To:
Cc:
Subject:
Almodovar, Orlando
Friday, April 16, 2010 8:45 AM
Metals Hearing
[email protected] <'[email protected]'>
Public Comments
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. Please
establish a speculative position limit in COMEX silver of no more than 1500 contracts. Please
restrict any hedging exemptions from those limits to legitimate hedgers. 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.
Sincerely, Orlando AImodovar
From:
AImodovar, Orlando
Sent:
Wednesday, January 20, 2010 2:32 PM
To:
'[email protected]'
Cc:
'[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'
Subject:
FW: Regarding Jan. 14, 2010 1:00 PM open Commission deliberation
Thanks are in order for your following thru on raising the issue of position limits in the public forum. Sincerely
-
Orlando
A.
From:
Almodovar, Orlando
Sent:
Tuesday, January 12, 2010 2:45 PM
To:
'[email protected]'
Cc:
'[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'
Subject:
Regarding Jan. 14, 2010 1:00 PM open Commission deliberation
Dear Mr. Chilton and CFTC personnel -
Please raise the issue publicly of position limits in COMEX silver at this Thursday's hearing. We look forward to
hearing about the methodology for how the formula that calculates such a position limit is constructed and the
rationale for how it was derived. I would like to see a vote or show of hands for and against by the commissioners
and for the showing to be of public record.
I apologize for any unprofessional and emotional emails you and your fellow commissioners may receive (or
have received in the past). I hope there is an open forum of intelligent discussion to debate the merits of any
proposals on this matter.
I realize this hearing is on energy, and view it as a pre-cursor to metals. I saw Chairman Gensler interviewed by
Fox Business recently, as well as by CNBC a few months before, and I always wonder why no one asks about
metals, and also why the Commissioner's do not raise it on their own. Who and why are they keeping a lid on this
issue??? I am curious.
Thank You for your time - Orlando A.
From:
Chilton, Bart [mailto:[email protected]]10-005
COMMENT
CL-00551
Sent:
Thursday, January 29, 2009 7:28 PM
To: Almodovar, Orlando
Subject:
Re:
Hi Orlando
I requested a silver investigation and I'm pleased that it is now taking place. Large positions in any market are
concerning, although large positions in and of themselves don't mean manipulation is taking place. Our
investigation is very detailed, looking at many facets of the silver market. While I am. Anxious to see the
investigation move forward and be completed, I also want it to be done right.
I'd be pleased to update you as the investigation goes forward.
B
From:
Almodovar, Orlando
To: Lukken, Walter; Dunn, Michael; Chilton, Bart; Sommers, Jill; Lavik, A. Roy; Obie, Stephen J.
Sent:
Wed Jan 28 18:25:57 2009
Subject:
Dear Mr. Chilton and CFTC personnel:
I felt compelled to email you following the viewing of your appearance on CNBC today, discussing the need for
more regulation and disclosure of big positions which can influence pricing in the real economy, yet there was no
mention of what has been going on in the silver market. Surely you are all aware of the requests made by many
spectators and investors, as well as Ted Butler's presentation of CFTC data demonstrating manipulative activity in
the silver market. I was most troubled to learn of Bear Stearns' large short position in silver which was transferred
to JP Morgan.
If you can appear in public to make statements on CDS's etc, please appear in public to discuss the silver
situation. At least that would show consistency on your part being you discussed on television the state of
financial markets. There may be valid reasons why the large short positions are allowed to exits, which I would
truly enjoy hearing about with respect to a commodity so scarce, that being silver.
Thank You,
Orlando Almodovar
Actuarial Analyst
EmblemHealth
55 Water St.
New York, NY 10004
Tel: (646) 447-5216
[email protected]
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