Subject: File No. S7-27-08
From: Richard P Umanzio
Affiliation: Financial Advisor, Wachovia Securities

May 5, 2009

I believe re-implementing the previous short sale rule is appropriate and will help to limit excessive short selling and reduce volatility. I also like the idea of also implementing a circuit breaker rule in addition to the short sale rule. Both will reduce volatility and improve the orderly functioning of the markets.