Comment Text:
I watched in horror today, February 24, 2011, as silver prices fell by more than $1.00 in a two or three minute period. This is not a normal market change. I believe there is manipulation of the silver markets by a few large institutions who have no business holding excessively large and obviously naked short positions in silver. Fair and appropriate position limits in silver should be implemented for ALL investors and should be limited to 1,500 contracts or 7.5M ounces. I understand the current proposed limit is 5,000 contracts. That amount is too large and will not solve the problem of MANIPULATION in the silver market. The 1,500 contract limit is reasonable and is still greater than any other current concentration in physical commodities traded on the COMEX.
