Comment Text:
10-005
COMMENT
CL-01325
From:
Sent:
To:
Subject:
Amazing
Saturday, April 10, 2010 7:28 AM
Metals Hearing
position limits and market manipulation
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals.
I am no expert but it seems to me that when one entity holds the vast majority of shorts, it effectively sets the
price. I believe this puts the entity in an unfair position.
Please establish a speculative position limit in COMEX silver - I've seen 1500 contracts mentioned which makes
sense. 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,
John Overington
539 Rouge Hills Drive,
Toronto, ON.
MIC 2Z9
905 626 8080
