Comment Text:
10-005
COMMENT
CL-00608
From:
Sent:
To:
Subject:
Mike Gruy
Wednesday, April 14, 2010 5:15 PM
Metals Hearing
March 25 Meeting to Examine Futures and Options Trading
Dear Sir,
I recently watched part of the CFTC panel discussions with much interest and understand that the public has
been invited to comment on the subject matter.
Based on what I have heard and read, it appears to me that the current position limits in COMEX silver are
excessive and I respectfully urge the Comission to lower them from the existing 6,000 contracts to no more than
1,500-1,800 contracts. I think it would also be right for the Comission to restrict any hedging exemptions from
those limits, to legitimate hedgers.
In addition, I also believe that the huge levels of concentration in COMEX silver futures which have occurred over
the past few years on the short side of the market, should be stopped by you.
Thank you for the opportunity to share my thoughts and ideas concerning this most important issue. I trust that
you will keep the public in mind when you make your decisions.
Yours truly,
Michael A. Gruy
10083 Airport Rd.
Conroe, Texas 77303
