Comment for Proposed Rule 76 FR 4752
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From:
Charles Orr
Organization(s):
none
Comment No:
29188
Date:
2/25/2011
Comment Text:
Dear CFTC Chairman and commissioners,
As an individual investor I should have the opportunity to participate in any market on a footing that at least offers me a chance to gain or lose based on my skill and knowledge of the fundamental and technical aspects of the market itself. Having to deal with adversaries who hold undue influence on the market because of their ability to manipulate trading due to their unlimited position limits is unfair and against free market principles. The silver market has been plagued by this situation for years.
Position limits for the sliver market should be set within the context of what reasonable commercial needs exist. 5000 contracts in the silver market are not reasonable because that contract size exceeds the annual useage of all but a very small handful of silver producers and consumers.
A position limit of 1500 contracts is much more realistic to actual conditions, and I respectfully request that you set 1500 contracts as the position limit for silver.
Thank you,
Charles Orr
