Subject: File No. SR-Amex-2005-072
From: Daniel Loewith

January 26, 2006

As an investor, i believe that all markets are correct in the long term, however, opportunity can be found in the inconsistencies of these markets.

The fact that a users group opposes the creation of an (albiet limited) free market for a commodity speaks to the undervaluation of it. As proven by the multiple gold etf's, proper value is found at market rates.

Supply and demand in a free market is the basis for any exchange. Any curbs on such would be against the values of SEC itself.