Comment Text:
10-005
COMMENT
CL-01788
From:
Sent:
To:
Subject:
Arthur Adams
Friday, April 9, 2010 8:57 AM
Metals Hearing
position limits for precious metals
Secretary of the Commission
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street NW
Washington, DC 20581
Dear Sirs;
Thank you 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
1,500 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 by such firms
as JP Morgan. Market manipulation creates an uneven, unfair playing field for traders
not involved in the manipulation.
Sincerely,
Dr. Art Adams
23 Cobblestone Lane
Le Claire, IA 52753
