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U.S. Securities and Exchange Commission

Comments on Proposed Rule:
Short Sales

Release No. 34-42037; File No. S7-24-99


Author: paulb54@yahoo.com at Internet Date: 07/06/2000 4:31 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:31:34 2000, The following information was submitted: Host: 134.241.246.163 submit_by = paulb54@yahoo.com Name = Paul Bouchard Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: larrychisholm@mediaone.net at Internet Date: 07/06/2000 5:33 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:33:29 2000, The following information was submitted: Host: 24.25.108.11 submit_by = larrychisholm@mediaone.net Name = Lawrence F Chisholm Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: scotch2o@mediaone.net at Internet Date: 07/06/2000 5:32 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:32:43 2000, The following information was submitted: Host: 24.25.108.11 submit_by = scotch2o@mediaone.net Name = Shari J Chisholm Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: lechis@osage.net at Internet Date: 07/06/2000 5:36 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:36:32 2000, The following information was submitted: Host: 24.25.108.11 submit_by = lechis@osage.net Name = Leo E Chisholm Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: indy500@videotron.ca at Internet Date: 07/06/2000 4:29 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:29:30 2000, The following information was submitted: Host: 24.200.164.196 submit_by = indy500@videotron.ca Name = Mr. I. Chytial Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation. In addition, there is great urgent need to protect innocent investors and small business men alike from the ruthless and extreme manipulators Market Makers whose actions are currently totally ungoverned. I hope this action would be aired and implemented soon before millionsof people loose their hard earned family savings.


Author: dietrich@peoplescom.net at Internet Date: 07/06/2000 4:56 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:56:54 2000, The following information was submitted: Host: 204.0.160.18 submit_by = dietrich@peoplescom.net Name = Janice L. Dietrich Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: thomas.digiulio@ctw.org at Internet Date: 07/06/2000 5:38 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:38:19 2000, The following information was submitted: Host: 208.227.66.2 submit_by = thomas.digiulio@ctw.org Name = Thomas DiGiulio Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: guyduquette@home.com at Internet Date: 07/06/2000 4:11 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:11:26 2000, The following information was submitted: Host: 24.4.252.46 submit_by = guyduquette@home.com Name = Gerard Duquette Jr. Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: sam@faceo.com at Internet Date: 07/06/2000 4:16 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:16:33 2000, The following information was submitted: Host: 12.79.43.78 submit_by = sam@faceo.com Name = Samuel Allen Face, Jr. Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: jface@vpa.vit.org at Internet Date: 07/06/2000 4:15 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:15:33 2000, The following information was submitted: Host: 12.79.43.78 submit_by = jface@vpa.vit.org Name = Jo Face Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: kfritz@ragingbull.com at Internet Date: 07/06/2000 4:40 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:40:51 2000, The following information was submitted: Host: 209.30.225.192 submit_by = kfritz@ragingbull.com Name = Kathleen Fritzer Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: K6119@aol.com at Internet Date: 07/06/2000 5:21 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:21:28 2000, The following information was submitted: Host: 152.163.205.24 submit_by = K6119@aol.com Name = Chris K. Goclan Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: kiz@ragingbull.com at Internet Date: 07/06/2000 3:47 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 03:47:49 2000, The following information was submitted: Host: 216.129.33.49 submit_by = kiz@ragingbull.com Name = Francis Griffus Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: J.HALL@HOME.COM at Internet Date: 07/06/2000 5:21 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:21:47 2000, The following information was submitted: Host: 24.4.252.225 submit_by = J.HALL@HOME.COM Name = JOHN HALL Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: ehand@cinci.rr.com at Internet Date: 07/06/2000 5:19 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:19:00 2000, The following information was submitted: Host: 24.165.96.35 submit_by = ehand@cinci.rr.com Name = edward w hand iii Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: hashim@haafiz.net at Internet Date: 07/06/2000 6:02 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 06:02:52 2000, The following information was submitted: Host: 24.2.140.206 submit_by = hashim@haafiz.net Name = Ahammed Hashim, MD Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: Marked77@aol.com at Internet Date: 07/06/2000 5:52 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:52:50 2000, The following information was submitted: Host: 152.163.207.198 submit_by = Marked77@aol.com Name = Mark Alan Holcomb Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: huewel@patent-net.de at Internet Date: 07/06/2000 5:50 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:50:49 2000, The following information was submitted: Host: 132.176.66.82 submit_by = huewel@patent-net.de Name = Ralf Huewel Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: rbtjhnsn@aol.com at Internet Date: 07/06/2000 3:56 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 03:56:36 2000, The following information was submitted: Host: 205.188.193.152 submit_by = rbtjhnsn@aol.com Name = Robert E. Johnson Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: Sparowsong@aol.com at Internet Date: 07/06/2000 6:11 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 06:11:33 2000, The following information was submitted: Host: 152.163.207.188 submit_by = Sparowsong@aol.com Name = Rose Johnson Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: MERLINZOR@AOL.COM at Internet Date: 07/06/2000 4:42 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:42:30 2000, The following information was submitted: Host: 205.188.197.39 submit_by = MERLINZOR@AOL.COM Name = LAWRENCE KEPECS Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: greg51@att.net at Internet Date: 07/06/2000 5:16 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:16:28 2000, The following information was submitted: Host: 12.78.103.206 submit_by = greg51@att.net Name = Greg Kimble Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: knoke@brinkjost.de at Internet Date: 07/06/2000 3:53 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 03:53:24 2000, The following information was submitted: Host: 212.185.239.203 submit_by = knoke@brinkjost.de Name = Reinhard Knoke Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: Jeffkubal@fairisaac.com at Internet Date: 07/06/2000 5:34 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:34:41 2000, The following information was submitted: Host: 24.25.108.11 submit_by = Jeffkubal@fairisaac.com Name = Jeff Kubal Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: wkurth1042@aol.com at Internet Date: 07/06/2000 5:09 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:09:11 2000, The following information was submitted: Host: 205.188.192.173 submit_by = wkurth1042@aol.com Name = Walter J. Kurth Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: 2020@brightscreen.com at Internet Date: 07/06/2000 5:50 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:50:38 2000, The following information was submitted: Host: 209.86.32.47 submit_by = 2020@brightscreen.com Name = Jim Lakey Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = VCSY stock I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: papabul@aol.com at Internet Date: 07/06/2000 5:31 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:31:29 2000, The following information was submitted: Host: 152.163.195.204 submit_by = papabul@aol.com Name = Harry Edward Ludwig Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: steviesteve69@hotmail.com at Internet Date: 07/06/2000 4:51 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:51:20 2000, The following information was submitted: Host: 209.220.224.74 submit_by = steviesteve69@hotmail.com Name = Steve Mason Professional_Affiliation = Painter Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: imaqt70@webtv.net at Internet Date: 07/06/2000 4:44 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:44:59 2000, The following information was submitted: Host: 209.240.200.123 submit_by = imaqt70@webtv.net Name = jOSEPH MCKINLET Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: tommcmahan@fairisaac.com at Internet Date: 07/06/2000 5:35 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:35:24 2000, The following information was submitted: Host: 24.25.108.11 submit_by = tommcmahan@fairisaac.com Name = Thomas McMahon Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: howie06@aol.com at Internet Date: 07/06/2000 4:18 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:18:13 2000, The following information was submitted: Host: 24.164.52.253 submit_by = howie06@aol.com Name = Howard J McMhan Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: bmerry@centraltx.net at Internet Date: 07/06/2000 4:38 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:38:31 2000, The following information was submitted: Host: 208.24.232.167 submit_by = bmerry@centraltx.net Name = William Merry Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: Bostwhaler@aol.com at Internet Date: 07/06/2000 5:35 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:35:50 2000, The following information was submitted: Host: 152.163.201.84 submit_by = Bostwhaler@aol.com Name = Bruce Minea Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: bmissagh@idirect.com at Internet Date: 07/06/2000 6:02 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 06:02:32 2000, The following information was submitted: Host: 216.154.14.89 submit_by = bmissagh@idirect.com Name = bob missagh Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: bmissagh@idirect.com at Internet Date: 07/06/2000 6:02 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 06:02:32 2000, The following information was submitted: Host: 216.154.14.89 submit_by = bmissagh@idirect.com Name = bob missagh Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: buntynn@yahoo.com at Internet Date: 07/06/2000 5:31 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:31:16 2000, The following information was submitted: Host: 204.71.105.63 submit_by = buntynn@yahoo.com Name = Brent L Nelson Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: ultraklaus@aol.com at Internet Date: 07/06/2000 5:44 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:44:40 2000, The following information was submitted: Host: 195.93.1.143 submit_by = ultraklaus@aol.com Name = Klaus Offergeld Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: janeolson@fairisaac.com at Internet Date: 07/06/2000 5:35 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:35:56 2000, The following information was submitted: Host: 24.25.108.11 submit_by = janeolson@fairisaac.com Name = Jane Olson Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: mijako@aol.com at Internet Date: 07/06/2000 3:51 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 03:51:27 2000, The following information was submitted: Host: 152.163.195.181 submit_by = mijako@aol.com Name = James L. Owens Professional_Affiliation = Engineer/Management Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: Steve4631@hotmail.com at Internet Date: 07/06/2000 4:14 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:14:11 2000, The following information was submitted: Host: 207.242.160.3 submit_by = Steve4631@hotmail.com Name = Steve Parrish Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: grandmere5@mindspring.com at Internet Date: 07/06/2000 5:30 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:30:56 2000, The following information was submitted: Host: 199.174.170.10 submit_by = grandmere5@mindspring.com Name = Barbara Reno Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: LSchnei399@aol.com at Internet Date: 07/06/2000 5:05 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:05:05 2000, The following information was submitted: Host: 162.58.35.200 submit_by = LSchnei399@aol.com Name = Leslie G. Schneider Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: kidshouse@webtv.net at Internet Date: 07/06/2000 5:45 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:45:30 2000, The following information was submitted: Host: 209.240.216.86 submit_by = kidshouse@webtv.net Name = carl schwartz Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: justbuyinin@yahoo.com at Internet Date: 07/06/2000 5:18 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:18:13 2000, The following information was submitted: Host: 204.214.145.2 submit_by = justbuyinin@yahoo.com Name = Marc Serulneck Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: James.J.Skokowski@mail.sprint.com at Internet Date: 07/06/2000 4:45 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:45:35 2000, The following information was submitted: Host: 208.24.179.202 submit_by = James.J.Skokowski@mail.sprint.com Name = James J. Skokowski Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: enterprisencc@HOTMAIL.COM at Internet Date: 07/06/2000 5:45 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:45:01 2000, The following information was submitted: Host: 167.206.78.24 submit_by = enterprisencc@HOTMAIL.COM Name = JOHN SPERRAZZA Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: eskerr@free2k.com at Internet Date: 07/06/2000 5:38 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 05:38:33 2000, The following information was submitted: Host: 212.34.200.110 submit_by = eskerr@free2k.com Name = Bernard Whack Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.


Author: allanwicklund@hotmail.com at Internet Date: 07/06/2000 4:14 AM Normal TO: RULE-COMMENTS at 03SEC Subject: Rule S7-24-99 ------------------------------- Message Contents On Thu Jul 6 04:14:31 2000, The following information was submitted: Host: 24.188.212.38 submit_by = allanwicklund@hotmail.com Name = Allan J. Wicklund Professional_Affiliation = Investor Subject = Short Sales (Release No. 34-42037; File No. S7-24-99) Comments = I am writing you this letter to show that I am in favor of the proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a small company is access to capital for creation and growth. It is also known that investors who place funds in such companies expect and deserve protection from fraud and manipulation. Small business is a critical building block for jobs and wealth in our economy. MMs have steadily been selling more shares than they have bought, defying the laws of supply and demand, solid company fundamentals and favorable company press releases, resulting in plummeting stock prices. The laws of supply and demand have been denied and investors deprived of fair value. Meanwhile, the company valuation of stock has been greatly reduced and with it, access to investment capital for acquisitions and growth. The MMs are supposed to provide a fair market trading mechanism, yet ,when they become invested through shorting, they actually have a vested interest in seeing the price fall. This practice must be brought under some form of control.  The Securities Act provides certain protective language as it relates to investors. Section 15A(b)(6) of the Securities Act says that the rules of a national securities association must be designed, among other things to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest, and perfect the mechanism of a free and open market. Section 15A(b)(11) requires that association rules be designed to produce fair and information quotations, and to prevent fictitious and misleading quotations. In spite of the intent expressed by these two sections of the Securities Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose short positions on OTCBB stocks. The MMs can short, even naked short, at will with no checks and balances on OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation on a scale only limited by the greed and imagination of the MMs. The MMs just keep selling the targeted companies stocks with the idea that they will never have to produce real shares. Their apparent goal is to force the company to fail by depriving it of working capital and discouraging investment. It is my belief billions of dollars are being stolen from investors in this manner. For the MMs, it's a wonderful business; sort of like selling insurance, but never having to pay claims. They get the money, but have no expense or expectation of delivering anything tangible in return. This unfair and counter productive practice cannot go on.  MMs must be held accountable by requiring mandatory disclosure of MM short positions on all OTCBB listed stocks. In this manner, excessive shorting can be made known to the investing public, monitored for excess and corrected by the SEC/NASD. Then and only then can investors in these stocks be treated with the appropriate protection against fraud and manipulation.

http://www.sec.gov/rules/0706b01.htm


Modified:07/06/2000