Subject: File No. S7-08-09
From: Greg Smith

May 5, 2009

I believe the uptick rule should be reinstated immediately. The repeal of this law has enabled rampant shortselling in the market in the past year. Sellers have been able to overwhelm any buyers and drive stocks down relentlessly without any change to the underlying fundamentals of the company the stock represents. Without the uptick rule to balance the market, the market has become a one sided affair where any rumour or innuendo accompanied by coordinated short selling can drive a stock down relentlessly without pause.

For me, this has caused me to distrust the workings of the stock market. It is not a fair and balanced field where an investor can be protected from abuse through the actions which exploit the lack of an uptick rule.

Please, for the sake of all investors big and small, add balance back to the playing field. Restore the uptick rule now.