February 24, 2009

Subject: SKF AND DUG UTRASHORTS

To Whom It May Concern,

I have lost money by investing in these instruments purchased to protect my oil and gas investments and bank stocks. Despite huge declines in energy and bank stocks these instruments have lost money when they should have made twice the loss. These instruments are toxic and should be banned from the market because they do not work for retail investors and only serve hedge funds to get around the stock shorting rules. They never should have been approved and are destroying our capital markets.

Frank Martin

ps - The previous SEC chairperson has destroyed our investment markets by approving the double short ETF funds, allowing naked short selling, and removing the uptick rule. I hope our new SEC will begin to do its job and regulate the market to make for transparency.