Comment Text:
I am writing to voice my support for the adoption of the proposed rule on speculative position limits for commodities (RIN 3038-AD15 and 3038-AD16 Position limits for Derivatives).
The commodity markets were created as a hedging tool for the end user of that commdity, not short time traders that are only in it for the quick gain of profits. This only brings volitily to the market. When speculators hold a large position in the market they undermine and distort the price discovery funtions of the market.
The position rule, will play a crucial role in reestablishing stability and true purpose of the markets.
I thank you for your consideration,
Alan Joseph
