Comment Text:
10-005
COMMENT
CL-01290
From:
Sent:
To:
Subject:
Scott Chapman
Saturday, April 10, 2010 9:17 AM
Metals Hearing
COMEX Silver position limits
Dear Sir,
In the fall of 2008, I had correctly predicted that a crash in the markets
was coming and had positioned my 401K portfolio in gold and
silver. Sure enough, during the crash, gold and silver were in high
demand but my investments were cut in half because of the
manipulation schemes brought forth byJPM and others. My retirement
money was stolen.
Thank for the opportunity to comment on the issue of position limits for
precious metals. Please 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. Please stop the
levels of concentration in COMEX silver futures that have been
experienced over the past few years on the short side of the market.
Sincerely,
Scott Chapman
