July 8, 2008
I support elimination of the Market Makers exemption.
I support amendment to rule 203(b)(3)(iii) of Regulation SHO - completely eliminating the close out exemption for option market makers as proposed (not alternative 1 or 2) .
I support amendment to rule 200(g)(1)which will require a "locate" on short sales securities and proper marking of sales as "long" or "short".
I also support amendment to rule 200(g)(1) proposed in the second round in release 34-56213 File No. S7-19-07 because I am being harmed from mis-marked sales as "long" when they are NAKED short which should tell all, they are counterfeit shares.
In the event of failure to amend rule 200 (g) (1), please make and release a cost analysis incurred by equity investors for each stock this occurs and post the results on the SEC webpage.
The SEC must do a cost analysis incurred by equity securities investors if you do not eliminate the market maker exemption as your new data clearly shows the fails are being produced by invoking that exemption which, in turn harms me as an private investor.
Please explain to me how $1.50 below is a legitimate close. This occurred today for ticker HDY(AMEX) July 8, 2008. This should be made right before the opening of after hours trading and by no means be permitted before the opening of trading on the following day. However if the correction is not required before the open of after-hours trading, then the games will continue only during after hours. I am angry that this kind of "painting" is permitted when we the investors could so easily report occurrences and fines levied. It would not be long before the behavior would cease, and we are talking about behavior. I am not interesting in increasing the burden of the SEC, and these few changes with appropriate fines would see the behaviors changed in short order. If I do not see action, then the SEC is a joke. This speaks to confidence issues which is the centerpiece of any system.
16:00:18 2500 1.50 - AMEX ct la
16:00:00 1.52 - OTC M
15:58:51 400 1.55 + AMEX
15:58:51 1600 1.55 + AMEX