July 17, 2008
As further evidence of the alleged naked shorts now allowed to trade on the SLV ETF, here is an article by Ted Butler, a silver investing expert, on this topic. http://news.silverseek.com/TedButler/1214325521.php As an investor in SLV, I am concerned about the impact of these naked shorts on SLV and the silver market. I believe that the CFTC and the SEC have a responsibility to see that our markets operate in an equitable and proper manner, i.e. without manipulation by any one (or small number) of large investors.
I'm hereby asking the CFTC and the SEC to look into this matter on behalf of individual investors, and take the proper steps to make sure the market operates freely and in a proper manner. This needs to be done before we see the impact that naked shorts have apparently had on the financial stocks repeated in the precious metals markets.