Subject: File No. S7-02-10
From: jerry kehoe

May 19, 2010

Im an individual investor with ETFs and using stop-loss orders.

1.) As I read it, the up-tick rule was approved for re-instatement in Feb 2010, however re-instatement was held until Nov 2010.

Run an analysis as though the up-tick rule had been operative.

2.) There is a tone that since the market recovered quickly everything is as it should be. If the question is who benefited and who paid I suspect the individual investor paid disproportionately.

3.) Get ETFs covered not, not in November of next year.