Comment Text:
26 Feb 2011
Dear Chairman Gensler and fellow Commissioners:
I urge you to approve the staff’s proposal on position limits, including limiting exemptions to bona fide hedgers. I would ask you, however, to readjust the proposed formula in silver. The proposed limits of about 5000 contracts seem too high to me with current silver production. It still could allow a single entity to control the market.
I would rather see the limits reduced to about 1500 contracts.
Thank You,
Elmer Burruss
