Comment Text:
10-005
COMMENT
CL-00596
From:
Sent:
To:
Subject:
JOHN BEGUN
Wednesday, April 14, 2010 11:37 PM
Metals Hearing
Comex Silver Trading Limits
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. Please
institute speculative position limits in COMEX silver of no more than 1500 contracts. Please restrict
hedging exemptions from those limits to legitimate hedgers. The levels of concentration in COMEX
silver futures that have been experienced over the past few years on the short side of the market have
been damaging to the metals investment community. These concentrated shorts are aimed at capping
market rises and driving down prices. It's one thing to go short the market, but to go short at the
levels of concentration shown in the past, amounts to deliberate and unfortunately successful price
manipulation. Anyone not in on the game has been the loser and will continue to be in the future if
these activities are not curbed!
Sincerely,
John C. Begun
Kirkland, IL
[email protected]
