Comment Text:
10-005
COMMENT
CL-02734
O. l:, T, O.
OFt~IOE 0~: THE SEORETARIi~T
25 Schilling Road
Hunt Valley, Maryland
April 14, 2010
21031
FAX 202-418-5521
& Mail
Secretary of the Commission
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21
St
Street, NW
Washington, DC 20581
RE: POSITION LIMITS FOR PRECIOUS METALS
Dear Commissioners:
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 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.
I have been a long time silver investor and have encouraged my children to invest
in silver as a way to save for future needs or retirement. Please take the above steps to
make the silver precious metals market a level and fair playing field for all individual
investors such as myself and my children to invest in.
Very truly yours,
Michael J. McCarthy
