Subject: File No. SR-Amex-2005-072
From: John W Oughtred

January 30, 2006

RE ETF for Silver,
I am strongly in favor of the SEC approving this. There is one for gold, and silver seems a natural companion for investors.
Buying silver bullion of any size for a small investor is not practical. This would allow access to another asset class for investors to hedge and diversify with, that would be readily available on the markets through a broker, and liquid.

Thank you for your consideration