Subject: File No. S7-10-10
From: Pat Tedesco

May 27, 2010


(1) 60% to 70% of daily volume can be from hft and hft feeds into electronic exchanges

(2) basket etfs and index etfs can move individual stocks quickly regardless of the fundamentals of the individual stock

(3) ultra etfs and futures on stocks and futures on stock etfs have come into existence

(4) short trade up-tick rule has been demolished or modified

(5)naked short selling was allowed ,or rules not enforced, or no way to know

...this stock market has turned into a wild casino with violent moves in less than 15 minutes.

I am an individual investor, an active trader but certainly not a day trader. I like liquidity in the stock market but over a longer period of time--that becomes the incentive to try to buy attractive stock at low prices and sell when I think stock price is fully valued.

But the tremendous influx of new products, "cross-currents"
between futures and stock exchanges, and high speed computerized electronic systems have made the markets unmanageable, in my opinion.
I think you need to look at making the whole thing manageable. But good luck.