Subject: File No. S7-08-09
From: John H Preuss
Affiliation: Owner, John's Grove

May 5, 2009

The SEC made a huge mistake in eliminating the uptick rule. This has allowed devestating market manipulation that has caused many investers to feel that the game is rigged against them. Many investors feel that the SEC was improperly influenced by hedge funds, etf's, etc. when it eliminated this vital rule.

There must be no exceptions whatsoever to a reinstated uptick rule. ETF's must comply or be elimated. The rule should be for at least 12.5 cents, preferably more, as market prices are much higher than in 1938 when the rule was first enacted.

Other borrowed assets cannot be sold without being paid for in full. Our economy needs capital formation, not capital destruction. Please represent invetors, and restore a meaningful uptick rule and eliminate abusive short ETF's.