Subject: File No. S7-08-09
From: Scott D Hardie
Affiliation: Financial Advisor, Merrill Lynch

May 8, 2009

The uptick rule is only a pressure release valve for short term manipulation. It means nothing to a short strategy if that strategy is based on fundamentals instead of market menipulation.

We are trying to foster investment, not wild, manipulated trading patterns. The dissolution of the uptick rule caused major disruptions in the marketplace and allowed unethical and irresponsible entities to create panic.