Comment Text:
10-005
COMMENT
CL-02346
From:
Sent:
To:
Subject:
secretary
Wednesday, April 7, 2010 12:27 PM
Metals Hearing
FW: Public comments concerning position limits for precious metals
From:
E. David Neufeld [mailto:[email protected]]
Sent:
Wednesday, April 07, 2010 11:50 AM
To:
secretary
Subject:
Public comments concerning position limits for precious metals
Dear Sir;
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.
Ialso request you stop hiding the identity of the large position holders. If an entity chooses to
take an extreme position that is significant to the market it is reasonable that other market
participants know about it.
Lastly, I ask that you clearly communicate that if a 'Force de Majeur' occurs and over whelms those
that have shorted the market without the required backing, the COMEX will insist that the contracts
be honored regardless of the financial pain it causes to the shorts.
Sincerely,
E. David Neufeld
19900 Indigo Lake Drive
Magnolia, Tx. 77355
April 7, 2010
