Subject: File No. S7-08-09
From: Frank Mucklo

May 5, 2009

The problem is not short selling itself or the uptick rule. It's the lack of disclosure. Why in this electronic age are short sales only reported twice a month? Shouldn't short sales be indicated on the ticker as they occur? This could easily be done with a super scripted "S". We would then know when a stock was under shorting pressure in real time. The lack of transparency has give the advantage to shorts and hedge funds. We need real time transparency in the markets to restore confidence. If this doesn't happen the markets will continued to be rigged in favor of the shorts and hedge funds. We should know at the end of each day what volume was short selling in a particular stock.