Subject: File No. S7-25-08
From: Steven Agard

September 18, 2008

Dear Chairman Cox,

As both a small investor and retired relying on my savings and investments, I'm grateful for the renewed and new efforts to slow down what the short sellers. Thank you. Still need the uptick rule brought back (and modified to compensate for decimalization).

More importantly, it seems like the renewed rules can be partially circumvented, particularly in the case of financial stocks, by combining massive long positions on ETFs that are short instruments and ultra (leveraged) short instruments (such as SKF). Ignoring their impact seems counter the the purpose behind recent rulings on shorting.

Thank you again for starting to look out for the *people*.


Steven Agard, a Republican voter