Comment Text:
10-005
COMMENT
CL-02741
April 12, 2010
John S. Stephens
13829 Hidden Lake Lane
Sugar Land, TX 77498
Gary Gensler
Chairman of the Commission
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21
st
Street NW
Washington, DC 20581
Dear Mr. Gensler:
Thank for your consideration of position limits for precious metals in your recent hearing. As a
private, retail investor, I am strongly in favor of no longer allowing the big commercials to so
egregiously control this market to the detriment of the general investing public. I encourage you
to establish a speculative position limit in COMEX silver of no more than 1500 contracts.
Further, it would be appropriate to restrict any hedging exemptions from those limits to
legitimate hedgers. 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. A level playing field must be
restored to the COMEX silver and gold metals market.
You are doing a fine and fair job so far. Please follow through on this hearing and your
investigation with meaningful action. Thank you.
Sincerely,
"\ J~bhn S. Step
~/
Jnvestor
