Subject: File No. S7-08-09
From: Peter Morris
Affiliation: N/A

May 6, 2009

As an independent investor, my experience with the removal of the "uptick" rule is merely empirical. But the changes in the market which took place concurrent with that change point to an amazing increase in price volatility in the stock markets. While that volatility makes it easy for those of us on the sidelines to make quick profits in the purchase and sale of equities, such quick profits are not the purpose of the stock markets. We need to return to a nation of investors, rather than using the stock markets as a form of "lottery." Restoring the "uptick" rule would take a significant step toward toward that end, by restoring some solid footing under the equity markets.