Comment for Proposed Rule 76 FR 4752
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From:
Rick Bechthold
Organization(s):
none
Comment No:
30382
Date:
2/27/2011
Comment Text:
Dear Commissioners;
I request the CFTC reduce the COMEX Silver position limit to 1500 contracts.
This reduced position limit would be more in line with the position limits of other commodities of finite supply.
Exemptions to the position limit should only be granted to bona fide hedgers of sufficient size, that the hedger can justify an exemption.
The current position limit for COMEX Silver is too high, which has resulted in a few large speculators having the ability to unfairly influence or manipulate the market. Currently there are several lawsuits before the Courts regarding this matter.
Please correct this situation and readjust the position limit for COMEX Silver.
Best Regards
Rick Bechthold
Investor
Calgary, Alberta Canada
