Comment Text:
10-005
COMMENT
CL-01540
From:
Sent:
To:
Subject:
Stan Fogel
Friday, April 9, 2010 1:07 PM
Metals Hearing
RE: Position Limits
Secretary of the Commission
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21
st
Street NW
Washington, DC 20581
Dear Sir;
Thank you for the opportunity to comment on the issue of position limits for precious metals.
Having followed the CFTC public hearing and all of the subsequent input by respected traders and
financial analysts regarding the apparent misconduct of the Bullion Banks in their
blatant manipulation of the futures markets in precious metals, is it not incumbant upon the CFTC
as the sole regulating body of the futures comodity exchange to take action.
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,
S.J. Fogel
