Comment Text:
10-005
COMMENT
CL-00928
From:
Sent:
To:
Subject:
Scott Emerson
Sunday, April 11, 2010 2:49
PM
Metals Hearing
Please Stop the Concentration & Manipulation Of Metals Markets
To: Commodity Futures Trading Commissioners
Re: Public Comment - Metals Hearing
Dear Commissioners,
Thank you for the opportunity to comment on the issue of position limits
for precious metals, and for conducting the recent hearing on this issue.
We are asking you to do the right thing and 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. The levels of
concentration (and manipulation) by a few big traders in COMEX silver
futures that investors have experienced on the short side in the silver
markets over the past few years must be stopped. It is unethical and
creates market imbalances and instability.
The framers of commodity law intended for neither speculators nor commercial
hedgers to unduly influence prices through excessively large, long or SHORT
positions. We are encouraged and hopeful that you will enforce the intent
of our commodity laws by adopting the above reasonable changes in
speculative position limits.
Sincerely and Thanks for your expert attention on this issue.
Scott Emerson &
Jude Emerson
