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Comment for Sunshine Act Sunshine Act Meeting: March 25, 2010

  • From: Steve Colton
    Organization(s):

    Comment No: 21876
    Date: 4/9/2010

    Comment Text:

    10-005
    COMMENT
    CL-01577
    From:
    Sent:
    To:
    Subject:
    Steve Colton
    Friday, April 9, 2010 12:34 PM
    Metals Hearing
    Precious Metals Position Limits
    Dear Sir;
    Thank for the opportunity to comment on the issue of position limits for precious metals. I would
    encourage the CFTC to take the following outcomes:
    Please establish a speculative position limit in COMEX silver of no more than 1500 contracts.
    Please restrict any hedging exemptions from those limits to legitimate hedgers.
    Please 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.
    I believe these extreme position allowances enable the market to be manipulated, cause misallocation of
    resources, and represent a danger to the ultimate stability of the commodities markets.
    Sincerely,
    Steve Colton
    3310 Warburton Ave
    Santa Clara, CA 95051
    (408)260-117