Subject: File No. S7-08-09
From: James A Nowicki, CPA
Affiliation: Certified Public Accountant

April 20, 2009

Please reinstate the up-tick rule.

Stocks go down much faster than they go up - I think this is now obvious to everyone. Short sellers and hedge funds are "piling on" to abnormally drive stock prices down and manipulate the stock price to the detriment of everyone's retirement funds, IRAs, and 401(k)s.