Comment Text:
10-005
COMMENT
CL-02748
John V. Saeman
OFI=IOE OF THE
April 8, 2010
Secretary of the Commission
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street NW
Washington, DC 20581
Dear Sir:
As an individual investor in various commodities, I am writing to thank you for
holding the hearing on March
25
th
concerning the issue of position limits for
precious metals. This hearing brought to the forefront the most important issues
in silver; specifically, position limits, concentration and alleged manipulation on
the short side.
It is my sincere hope that, after careful consideration of all the facts, the CFTC
will establish a speculative position limit in COMEX silver of no more than 1,500
contracts, will restrict any hedging exemptions from those limits to legitimate
hedgers, and will 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.
Thank you, again, for your efforts on this matter.
V. Saeman
299 Milwaukee Street Suite 300 Denver, Colorado 80206
