Comment Text:
10-005
COMMENT
CL-00578
From:
Sent:
To:
Subject:
[email protected]
Thursday, April 15, 2010 11:25 AM
Metals Hearing
Precious Metals short position limits
Dear Sir,
Thanks for the opportuninty to express my concerns and opinion regarding position limits for
shorting precious metals. It has been obvious to many of us that there has been manipulation in
silver commodity prices by the large short sellers (JP Morgan in particular). I believe it prudent to
establish speculative position limits by any one entity to the area of 1500 contracts or less. This
should go a long way to removing their ability to impact and manipulate the price of the commodity
and allow the "free market" to determine the price via supply and demand. Also please look at
restricting hedging expemptions from those limits to legitimate hedgers to also help eliminate price
manipulation.
By stopping the concentrated levels of COMEX short silver futures we have observed the last few
years the true market will determine the commodity value and price as it should be in a free
market.
Thanks for your work in the area of commodities trading which should help improve the fairness,
quality and integrity of free markets for us small investors.
Sincerely
Harold Patrick
1610 E. 1050 N.
Heber City, UT 84032
435-657-0020
pat rick 11104@ ms n .corn
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