Subject: File No. S7-08-08
From: David Kehoe

May 20, 2008

If order tickets for stocks are labeled "buy" "sell' or "short sale" then the number of shares shorted should be easy to determine. If the total number of shares short of any publicly traded security were published on a daily basis rather then twice a month, it could be determined if the issue was being manipulated. The use of put and call options should not be allowed to circumvent the settlement delivery requirements.