Subject: File No. S7-08-09
From: R. John Muench

May 6, 2009

I would like to support the return of the uptick rule as it used to be or as close as possible. I am an average investor who has experienced a net loss while dollar cost averaging in to the market over the past twelve years. Yes, that is correct - I have lost by putting my hard earned dollars into a diversified fund of stocks. While I realize this was possible over a one or two year period, I would have given it less than a 0.1% chance of experiencing a net loss over a 12 year period. I ask myself, how has the unthinkable happened? One answer comes to mind - short selling. Short sellers are needed in any market, but the lack of the uptick rule gives short sellers a clear advantage. This advantage must be eliminated to give both shorts and longs the same level playing field.

Thank you for your consideration of my comment.