From: Drew@bomberfly [drew@bomberfly.com]
Sent: Friday, November 07, 2003 9:03 PM
To: rule-comments@sec.gov
Subject: S7-23-03:

SEC Regulators,
 
As an experienced trader I have sat back in frustration and disbelief at how the 
SEC has allowed unfair and illegal activities to go on hurting good companies and 
investors.  I have nothing against legal shorting practices...in fact, I do it 
myself...but it is the outright manipulation and currupt shorting that takes place 
for the specific purpose of driving a company's pps into the ground that I think 
is just undeniably wrong.  
 
Everyday I witness manipulation on the the different exchanges.  It is to the point 
that all of the traders and investors I am affiliated with constantly ask how the 
SEC and the exchanges can turn a blind eye to something so obvious.
 
It is not just taking place on the big boards.  Naked short-selling and manipulation 
of penny-stocks, small-cap stocks, and micro-capstocks has just been ridiculously 
overlooked.  Some companies have in fact become pennystocks because of naked shorting 
practices and manipulation.  It has to stop...and on all levels...not just in the 
big-name companies on the big boards...but across the entire market.  This means 
much tighter regulations on the OTC.BB markets as well.  Some of the most obvious
manipulation and naked short-selling takes place in this arena.  These companies 
don't have a chance against naked short-sellers and manipulators that take advantage 
of a flawed system that has been in place for decades. 
 
Off-shore and Canadian accounts should NOT be allowed to participate in ANY US 
markets without abiding by the rules set forth by the regulatory authorities of 
this nation.  Off-shore and Canadian accounts have long been able to manipulate 
markets with their illegal-criminal naked shorting activities through the SEC's 
own loose regulations that oversee these activities.  
 
Many promising companies that could have contributed to the economic growth and 
prosperity of this nation have been stomped out by the SEC's negligence in 
controlling these activities.  How many beneficial technologies, services, and 
products have never come to fruition for the simple fact that they were attacked 
by these opportunistic terrorists seeking to drive innocent companies out of 
business for their own selfish-personal gain? 
 
How many companies have to go out of business...how many investors have to lose 
their hard earned money... The SEC must step in and make the STRICT changes 
necessary to protect both the companies and the shareholders from this illegal 
and unfair activity?  How long must we all suffer at the hands of crooked market-
makers and specialists that support these unfair trading activities in the very 
securities that they reside?  When will it stop? 
 
Naked short-selling and market maker manipulation must come to an end.  It is 
nothing more than sabotage and terrorism to our trading system here in the states 
and renders havoc on its investors and businesses.
 
Each trading day brings new hope to promising companies and hopeful investors...
but each day there are thieves lurking in the shadows waiting to take what doesn't 
belong to them because we as a nation have allowed it to go on for far too long 
without punishment.  There must be punishment.

Tomorrow another investor will lose at the hands of these thievish manipulators 
as another company falls due to the loose regulation and policing of the system.  
Naked short-selling and unfair market-maker/specialist manipulation must stop.  
There is no excuse for turning a blind eye on this matter any further.  EVERYONE 
KNOWS THAT IT IS HAPPENING.  Please...pass the laws necessary to wipe out these 
activities...and enforce them with an iron fist.
 
Thank you,
 
DC