Subject: File No. S7-08-09
From: Chandrakant H Shah
Affiliation: Retired Aerospace Research Engineer

May 5, 2009

I am in favor of uptick rule but it must include tiered proposition where the rule has uptick requirement between 5 to 15 cents depending on the price of equity in the market place. Otherwise market will negate the whole concept in current plus/minus 1 cent range.

I am very much concerned about naked shorts environment in equity. It would be appropriate to enforce rule against naked shorts right away. Present environment is not very friendly to small (retail) investors. You are supposed to conduct the business of the agency such that you look after welfare of all investors not select few. In my opinion, you are only looking out for big shots