Comment Text:
10-005
COMMENT
CL-01704
From:
Sent:
To:
Subject:
Robert Coviello
Friday, April 9, 2010 10:16 AM
Metals Hearing
CFTC Metals Hearing Comment
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals.
Please consider establishing a speculative position limit in COMEX silver of no more than 1000 to
1500 contracts.
Please restrict any hedging exemptions from those limits to le~litimate 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 by the limited number of institutions that take
unlimited positions they could never hope to actually cover. This is abuse of the system in my opinion.
Sincerely,
Robert D. Coviello
100 Honeytree Circle
Waxahachie, TX 75165
