Comment Text:
10-005
COMMENT
CL-00976
From:
Sent:
To:
Subject:
Chris Wilson
Sunday, April 11, 2010 9:47 AM
Metals Hearing
position limits
I am grateful that feedback is being permitted regarding the issue of position limits for precious metals. I
think it would be wise to establish a speculative position limit in COMEX silver of no more than 1500-
2000 contracts, along with restricting any hedging exemptions from those limits to legitimate hedgers.
The excessive short concentration in COMEX silver futures is illegal and clearly not in the interests of
legitimate hedgers and speculators. I also feel the threats of these manipulators taking their business to
OTC markets is without merit. These people repeatedly say that's where the majority of trading happens
anyway, so I say we let them follow through on this hollow threat. The futures market is where price
discovery happens, not in their OTC market. We can't have meaningful price discovery while this fraud
is taking place.
Thank you,
Chris Wilson
