Comment Text:
10-005
COMMENT
CL-02740
Secretary of the Commission
Commodity Futures Trading Commission
Three Lafayette Center
1155 21
st
St. NW
Washington, DC 20581
04/10110
O.~:.T.O.
OFFiOE OF THE SEoR~-ARIAT
Dear Sir,
As a long term investor in the precious metals markets I was disturbed by the
revelations at the recent March 25
th
2010 Commission hearing concerning the
concentration and alleged manipulation of the precious metals markets by certain
short traders.
This manipulation, if true, strikes at the heart of our free market system and the
price discovery mechanism that is so vital to the proper functioning of the
commodity markets.
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.
1223 Page St.
San Francisco CA 941 !7
